The purpose of this Act is to amend the Prahran Mechanics' Institute Act 1899 to—
(a) clarify the objectives of that Act;
(b) enable the Prahran Mechanics' Institution and Circulating Library incorporated to make 3 acquisitions of land;
(c) enable the Institution to sell certain land that it owns or that is vested in the Institution;
(d) ensure that any funds from the sale by the Institution of land are used for the purpose of achieving the Institution's objectives.