Museum of London Act 1965
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Change 1
14 Application of moneys received by the Board.
(1) Moneys received by the Board, otherwise than— (a) under . . . the next following section of this Act; or (b) in respect of the disposal of objects vested in them and comprised in their collections; or (c) by way of gift or bequest (including moneys received by virtue of section 2(2) of this Act), or (d) under section 4 of the Museum of London Act 1986 shall not, except with the approval of the Greater London Authority, and the Corporation, be applied by the Board otherwise than in defraying expenses of the general administration of their collections and of any place where those collections are, or any part thereof is, kept. (2) Moneys received by the Board in a way mentioned in subsection (1)(b) above shall not be applied by them, except with the approval of the Greater London Authority, and the Corporation, otherwise than in the exercise of the power conferred on the Board by section 5(1) of this Act. (3) Any interest received by the Board on the investment of any moneys received by the Board in any way shall be treated, for the purposes of the foregoing provisions of this section, as forming part of moneys received in that way. (4) Nothing in the foregoing provisions of this section shall be taken as authorising the application by the Board of any moneys received by them by way of gift or bequest in a manner inconsistent with any condition attached to the gift or bequest.
14 Application of moneys received by the Board.
(1) Moneys received by the Board, otherwise than— (a) under . . . the next following section of this Act; or (b) in respect of the disposal of objects vested in them and comprised in their collections; or (c) by way of gift or bequest (including moneys received by virtue of section 2(2) of this Act), or (d) under section 4 of the Museum of London Act 1986 shall not, except with the approval of the Greater London Authority, and the Corporation, be applied by the Board otherwise than in defraying expenses of the general administration of their collections and of any place where those collections are, or any part thereof is, kept. (2) Moneys received by the Board in a way mentioned in subsection (1)(b) above shall not be applied by them, except with the approval of the Greater London Authority, and the Corporation, otherwise than in the exercise of the power conferred on the Board by section 5(1) of this Act. (3) Any interest received by the Board on the investment of any moneys received by the Board in any way shall be treated, for the purposes of the foregoing provisions of this section, as forming part of moneys received in that way. (4) Nothing in the foregoing provisions of this section shall be taken as authorising the application by the Board of any moneys received by them by way of gift or bequest in a manner inconsistent with any condition attached to the gift or bequest.
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