2Powers of transfer between the National Gallery and Tate Gallery collections

1

Either of the said two bodies of Trustees may lend or transfer any picture or other work of art to the other.

2

The said two bodies of Trustees shall from time to time consult together to consider whether any loans or transfers should be made under this section; and in exercising their powers under this section the said two bodies of Trustees shall have regard to the desirability—

a

of maintaining in the National Gallery a collection of pictures of established merit or significance,

b

of maintaining in the Tate Gallery a collection of British pictures and a collection of modern pictures, and

c

of securing that each picture is in that collection where it will be available and on view in the best context.

3

Any dispute between the said two bodies of Trustees as to how their powers under this section should be exercised shall be referred to a committee constituted in accordance with the next following subsection who, in deciding the dispute, shall have regard to the principles laid down in subsection (2) of this section; and it shall be the duty of the said two bodies of Trustees to give effect to any decision of the committee on the reference of a dispute.

4

The committee shall consist of—

a

a chairman appointed by the Treasury after consultation with both bodies of Trustees,

b

the director of the National Gallery and the director of the Tate Gallery, and

c

two persons to be nominated by each of the said two bodies of Trustees from among themselves;

and neither of those directors nor any of those Trustees shall be qualified to be appointed, or to act as, chairman of the Committee.