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G/2.1 Trusts, gifts and privately funded positions |
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2.1.1 Variation of trusts and gifts 2.1.1 Variation of trusts and giftsIn exercising its power to acquire, hold, dispose of, and deal with property, the University may agree to and carry out any conditions of a gift, grant, bequest, devise etc. Council may create any trust or other fund for this purpose, as provided under Part 5 of the Queensland University of Technology Act 1998 (the QUT Act). The Division of International and Development (Development Office) receives all bequests, donations and gifts on behalf of the University. Under Division 1 of Part 5 of the QUT Act, the University may propose the alternative use of funds remaining after the original purpose of a trust or gift has been met or where it is no longer possible to carry out the stated purpose of a trust or gift. 2.1.2 Privately funded academic positionsThe Vice-Chancellor or, where appropriate, the Deputy Vice-Chancellor (Academic), approves the creation of privately funded academic positions at senior lecturer level or above, in accordance with policy B/3.3 . These positions are funded by industry, commerce, statutory authorities, other bodies or individuals and may be named after sponsors at the discretion of the Vice-Chancellor or Deputy Vice-Chancellor (Academic). Sponsors agree to meet all extra costs of appointments, including all salary overheads and staffing costs associated with consequential reduced teaching loads for appointees and identified costs of their necessary resources. Sponsors pay the funds necessary to support the appointment for the period of the contract into a trust account. When funds for sponsored positions are received from a contributor, the appropriate organisational area is entitled to draw on the funds in terms of the conditions laid down on use of the funds. Modification History
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