12Subject to the provisions of Part II of this Schedule, a transfer of value is an exempt transfer to the extent that the value transferred by it is attributable to property which becomes the property of—
The National Gallery.
The British Museum.
The Royal Scottish Museum.
The National Museum of Wales.
The Ulster Museum.
Any other similar national institution which exists wholly or mainly for the purpose of preserving for the public benefit a collection of scientific, historic or artistic interest and which is approved for the purposes of this paragraph by the Treasury.
Any museum or art gallery in the United Kingdom which exists wholly or mainly for that purpose and is maintained by a local authority or university in the United Kingdom.
Any library the main function of which is to serve the needs of teaching and research at a university in the United Kingdom.
The National Trust for Places of Historic Interest or Natural Beauty.
The National Trust for Scotland for Places of Historic Interest or Natural Beauty.
The National Art Collections Fund.
The Friends of the National Libraries.
The Historic Churches Preservation Trust.
The Nature Conservancy Council.
Any local authority.
Any Government department (including the National Debt Commissioners).
Any university or university college in the United Kingdom.