Royal Blind Society (Merger) Bill 2005

Explanatory note
This explanatory note relates to this Bill as introduced into Parliament.

Overview of Bill

In July 2004, the Federal Court approved a scheme of arrangement under which the
Royal Blind Society of New South Wales, the Royal Victorian Institute for the Blind
Limited and the Vision Australia Foundation (the state organisations) merged their
activities into a single organisation, Vision Australia Limited (formerly called
RBS.RVIB.VAF Limited). Under the scheme, all the property, undertakings and
liabilities of the state organisations were vested in Vision Australia Limited.

The objects of this Bill are:

(a) to ensure that any gift, devise or bequest of property in favour of any of the
state organisations that had not vested before the merger does not fail but is
treated as a gift, devise or bequest of property in favour of Vision Australia
(the proposed new name of Vision Australia Limited), and

(b) to provide for the repeal of the Royal Blind Society (Corporate Conversion)
Act 2003 by proclamation on or after the day on which the Royal Blind Society
of New South Wales is deregistered as a company (since the deregistration of
that company will render the provisions of that Act redundant).

Outline of provisions

Clause 1 sets out the name (also called the short title) of the proposed Act.

Clause 2 provides for the commencement of the proposed Act on a day to be
appointed by proclamation.

Clause 3 defines certain words and expressions used in the proposed Act.

Clause 4 makes provision for any gift, devise or bequest of property (including a
declaration of trust in respect of property) in favour of any of the state organisations
(or their predecessors) to be treated as a gift, devise or bequest of property in favour
of Vision Australia. The proposed section applies in respect of a gift, devise or
bequest made or declared before or after the commencement of the proposed Act and
regardless of whether it is or was made or declared before or after the date of the
merger.

Clause 5 makes provision for the repeal of the Royal Blind Society (Corporate
Conversion) Act 2003 by proclamation on or after the day on which the Royal Blind
Society of New South Wales is deregistered as a company.

Note: If this Bill is not modified, these Explanatory Notes would reflect the Bill as passed in the House. If the Bill has been amended by Committee, these Explanatory Notes may not necessarily reflect the Bill as passed.

 

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