An Act relating to shares in The Mutual Life and Citizens’ Assurance Company Limited bequeathed to the University of Sydney by the Will of John Joseph Wardell Power late of the Island of Jersey; and for purposes connected therewith.
1 Name of Act
This Act may be cited as the University of Sydney (J. J. W. Power Bequest) Act 1962.
2 Exchange of certain shares bequeathed to University of Sydney
(1) The University of Sydney may:(a) agree to exchange the shares of one pound each in the capital of The Mutual Life and Citizens’ Assurance Company Limited bequeathed to it by the Will of John Joseph Wardell Power late of the Island of Jersey for shares of one pound each in the capital of The M.L.C. Limited,(b) effect the exchange by doing and performing all acts, matters and things pertaining thereto including the execution of such documents as may be requisite,(c) retain or use the shares in The M.L.C. Limited to be acquired by it pursuant to the said exchange upon the trusts set forth in the Will of the said John Joseph Wardell Power with respect to the said shares in The Mutual Life and Citizens’ Assurance Company Limited,(d) do and perform all acts, matters and things incidental or ancillary to or necessary or expedient for carrying into effect the foregoing provisions.(2) Any act, matter or thing done or performed before the commencement of this Act which would have been valid had the provisions of this Act been in force at the time such act, matter or thing was done or performed is hereby validated.