954. Cesser of use of site for institution.

954.     Cesser of use of site for institution.

If an institution to which the Literary and Scientific Institutions Act 1854 applies1 is removed to another site, the land previously occupied, unless it originally formed part of the possessions of the Duchies of Lancaster or Cornwall2, may be exchanged or sold for the benefit of the institution, and money received for equality of exchange, or on a sale, may be applied towards the erection or establishment of the institution on the new site3.

If land, or any part of land, given for the purposes of the institution otherwise ceases