The Principal Act is hereby amended by the substitution of the following new section for section 37:

"37. Power of Board or trustees of charity, with authority of Board, to let land, etc., to do repairs, etc., and raise money for those purposes.

(1) In this section ‘act to which this section applies’ means, in relation to a charity comprising land, any of the following -

(a) the letting of the land (including letting on leases for working any mine),

(b) the digging or raising of stone, clay, gravel or other minerals on the land,

(c) the cutting of timber on the land,

(d) the forming or laying out of any new road or street through the land,

(e) the making of drains or sewers through the land,

(f) the erection of any new building on the land,

(g) the repair, alteration, rebuilding or total removal of any existing building on the land,

(h) the making of any other improvements or alterations in the state or condition of the land.

(2) If it appears to the trustees of any charity comprising land that the doing of any act to which this section applies would be for the benefit of the charity, they may lay before the Board a statement and proposal in relation to the doing of that act, and thereupon -