Jersey R & O 5537
THE LORD PORTSEA GIFT FUND (JERSEY) ACT, 1971.
(Promulgated on the 5th day of June, 1971).
STATES OF JERSEY.
The 25th day of May,
THE STATES, adopting a Proposition of the
Education Committee, have made the following Act : -
WHEREAS by the
provisions of her holograph will of personal estate, which was proved in the
Royal Court (Probate Division) on the 15th August, 1957, Miss Albina Bertram
Falle, deceased, bequeathed the sum of £17,000 to the Royal Court and
States of Jersey, in the following terms :
“I give and bequeath to the Royal Court and States of
“Jersey the sum of £17,000 to be known as The Lord
“Portsea Gift Fund”, to help all young Jersey and
“boys (of Jersey and Guernsey parentage) entering the
“Royal Navy, Army, Air Force, and Civil Services who
“are in need of Financial help. All payments to be made
“by the States to the to the (sic) aforesaid Fund shall be
“absolute and without any
conditions, and I desire to place
“on record that both the aforesaid legacy and the conditions
“above conform to the wishes
of the late Lord Portsea of
WHEREAS on the 23rd
January, 1968, the States, adopting a Proposition of the Education Committee,
accepted, with the approval of the Royal Court, the aforesaid gift of
£17,000, and resolved that all stocks, shares and securities (other than
securities to bearer) held by the States of Jersey for the purposes of the
trusts of the Will of the Testatrix should be registered or inscribed, as the
case might be, in the name of the Treasurer of the States of Jersey and that
all securities to bearer held by the States of Jersey for the purposes of the
said trusts should be deposited in the Jersey Branch of a Bank approved by the
Finance Committee, in the joint names of the President of the Finance
Committee, and the Treasurer of the States of Jersey.
WHEREAS it is necessary
to establish rules and conditions with regard to the administration of
“The Lord Portsea Gift Fund” aforesaid (hereinafter referred to as
NOW it is resolved and
declared, with the approval of the Royal Court as follows : -
income of the Fund shall be administered by a Delegation of eight persons four
of whom shall be Jurats of the Royal Court appointed from time to time by the
Superior Number of the Royal Court and four members of the Education Committee.
The President of the Education Committee for the time being shall act as
Chairman of the Delegation, and shall have a casting vote.
members of the Delegation shall form a quorum and no decision of the Delegation
shall be valid unless at least five members of the Delegation of whom at least
two are members of the Education Committee and at least two are Jurats, are
present when the decision is taken.
Delegation may, in its absolute discretion, from time to time make grants out
of the income of the Fund to persons of the male sex who have not attained the
age of twenty years and who are natives of Jersey or Guernsey, or whose parents
are natives of Jersey or Guernsey, or either of whose parents is a native of
Jersey or Guernsey, and who have entered or are about to enter the Royal Navy,
the Army, the Royal Air Force, including the Service Colleges or the Civil
Services of the United Kingdom or the Channel Islands, in order to assist in
the maintenance, further education, welfare, or advancement in life of such
persons, provided that such persons are, in the opinion of the Delegation, in
need of financial assistance.
in this Act shall preclude the Delegation from continuing a grant to a
recipient after he has attained the age of twenty years for a period not
exceeding five years.
grant so made shall be absolute and free from any conditions.
Delegation shall at least once in every year present to the Royal Court and to
the States an account, audited by the States' Auditor, of its dealings with the
Fund, but it shall not be necessary to disclose in such account the name of any
individual to whom a grant has been made.
in this Act shall preclude the Delegation from making grants out of accumulated
income of the Fund, as well as current income, as it shall from time to time
consider desirable or expedient.
Finance and Economics Committee may make such changes in the investment of the
Fund as it shall from time to time consider necessary or expedient.
Greffier of the States.