291. University and college estates.

The universities of Oxford, Cambridge and Durham, and the colleges or halls in them, and the colleges of Winchester and Eton1, may lease any land2 belonging to the university or college in question, or any easement, right, or privilege of any kind, over or in relation to the land, for any purpose whatever, whether involving waste or not, for any term not exceeding, in the case of a mining lease, 60 years3. Any such lease must conform to conditions similar to those imposed in respect of mining leases granted by a tenant for life4, and the leasing power extends