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Protecting the University of Wales’ assets

The Western Mail reports that the University of Wales has announced it will create new charitable trusts to safeguard the future of the University of Wales Press, University of Wales Dictionary, the Centre for Advanced Welsh and Celtic Studies and Gregynog Hall.

They say that a fund worth £6.8m has been set aside to safeguard what the university describes as its “traditional services” ahead of a planned merger with University of Wales, Trinity Saint David:

Money donated to University of Wales by benefactors for “dedicated purposes” – totalling £5.5m – will be ring-fenced and used as it was intended by the Wales Universities Trust.

The trust will be independent of the university and have representation from the higher education in Wales.

Professor Medwin Hughes, vice-chancellor of the University of Wales, said respecting the institution’s long and celebrated history was important.

He added: “The University of Wales has a long and proud history dating back to 1893 and has made an outstanding contribution to higher education. However, times change. The Welsh university sector as a whole has grown and become stronger necessitating new ways of working to meet modern challenges.

“The University of Wales is engaging positively with this process, has started legal discussions and instigated initial consultation. These will of course continue during this period.

“At the same time, the university will safeguard its legacy for future generations and Wales as a whole. In creating Adduned Cymru – The Wales Pledge, the university is being faithful to its core values and ensuring the assets serve the purpose for which they were intended.”

The merger of the University of Wales into the new institution will take place once the university’s legal obligation to students enrolled on University of Wales degrees has been fulfilled.

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