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Lending and acquisition of cultural objects.
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47.—(1) Without prejudice to any provisions contained in any bequest or agreement, a Board, the Governors and Guardians, the Director of the National Archives (with the consent of the National Archives Advisory Council) or any other cultural institution designated by order by the Minister, may lend to, transfer, borrow from, or exchange with any other institution referred to in this subsection or standing designated for the time being under subsection (3) any cultural objects in the collection of the institution on such terms and conditions as may be determined by the institutions concerned.
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(2) Any dispute between one or more of the institutions referred to in subsection (1) or any other cultural institution designated by order by the Minister as to which of them should acquire or attempt to acquire a cultural object, shall be referred to the Minister and he or she shall, after consultation with all of the aforesaid institutions, decide which institution should acquire or attempt to acquire the object and the decision of the Minister shall be binding on all of the aforesaid institutions.
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