OLDUT and OUS
It is not generally recognised (either by the outside world, or the Union's members) that the Oxford Union Society does not own its buildings. The Oxford Union was never financially secure, and its position was not helped by its termly changes of junior (i.e. student) officers. There was also a significant level of historic debt, associated with the erection of its buildings.
Following a particularly bad period in the 1970s, the Union buildings were sold to a charitable trust ("OLDUT", the Oxford Literary and Debating Union Trust), and the Oxford Union Society was granted a licence to occupy the building.
Several parts of what were historically the Union buildings and grounds were subsequently either sold or made the subject of long leases, including an area of land around the rear of the debating chamber, part of the Union cellars (adjoining that now occupied by the Purple Turtle), and part of what was formerly the Steward's house (now occupied by the Landmark Trust). OLDUT has subsequently paid for the refurbishment and maintenance of the Union buildings, both from its own resources and by securing private donations and grant funding.
As a result of OLDUT's creation, the future of the physical Union is now secured, so that even if the Oxford Union Society were to cease to be, or to fail financially, the buildings would not be lost. In addition, OLDUT provides some financial support for the running of the Union in those areas where the Union undertakes activities which match OLDUT's charitable objectives - particularly the operation of the Union's library.
Despite the importance of OLDUT in preserving the fabric of the Union, the relationship between OLDUT and OUS has at times been strained. OLDUT is first and foremost a charitable trust, and it has objectives which do not always match those of what is primarily a student society.
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