7(1)Subject to subsections 6(1) and (2), the Board may accept on behalf of the Corporation any gift from any public or private body or person notwithstanding that it is made by the donor on terms and conditions and may execute any instrument necessary or expedient to ensure the carrying into effect of such terms and conditions but the acceptance and carrying out of such terms and conditions shall not in any way conflict with subsection 3(3).

7(2)Where in making any gift to the Corporation the donor expresses the desire that the object of his gift shall be inalienable, the Board shall not transfer such object to any public or private body or person for consideration or otherwise, and any transfer in violation of this subsection shall be null and void.

7(3)The rule against perpetuities and the rule against accumulations do not apply to gifts made to the Corporation or to money or property received by the Corporation.

7(4)The Corporation shall not transfer, convey or otherwise dispose of real property referred to in subsection 6(3), except with the written approval of the Lieutenant-Governor in Council.