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RUSSIAN ORTHODOX CHURCH PROPERTY
TRUST BILL 1991
NEW SOUTH WALES
EXPLANATORY NOTE
(This Explanatory Note relates to this Bill as introduced into Parliament)
The objects of this Bill are:
(a) to constitute a statutory corporation to hold property on behalf of the Russian
Orthodox Church Outside of Russia in Australia and New Zealand; and
(b) to specify the functions of the statutory corporation; and
(c) to vest in the statutory corporation property held in trust for the Church.
PART 1--PRELIMINARY
Clause 1 specifies the short title of the proposed Act.
Clause 2 provides for the proposed Act to commence on a day or days to be
proclaimed.
Clause 3 defines terms used in the proposed Act. Among the terms defined arc
"Archbishop", "Board", "Diocesan Council", "Diocese", "property", "Trust" and
"trust property". "Property" is defined to include property outside New South Wales.
PART 2--CONSTITUTION AND FUNCTIONS OF THE TRUST
Clause 4 provides for the Russian Orthodox Church Outside of Russia m Australia
and New Zealand Property Trust (referred to in the proposed Act as "the Trust") to be
established as a corporation. The Trust is to consist of a Board of Trustees comprising
the Archbishop of the Diocese of the Russian Orthodox Church Outside of Russia in
Australia and New Zealand, the secretary of the Diocesan Council, the treasurer of that
Council and 2 members of the Church elected by the Diocesan Council.
Clause 5 specifies the functions of the Trust. These include:
(a) buying, holding and selling Church property; and
Clause 6 will enable the Trust to make by-laws for certain purposes Those
purposes include the procedure by which the Board of Trustees is to conduct the
business of the Trust.
Clause 7 will empower the Trust to delegate its functions to a member of the Board
of Trustees or to any other person or body prescribed by the by-laws.
Clause 8 will enable the Trust to hold property alone or jointly.
Clause 9 provides for the investment of funds by the Trust and, in particular, will
enable the Trust to invest, as one fund, money held for different purposes.
Clause 10 will empower the Trust to make advances from its trust funds and
specifies how such advances may be made.
Clause 11 will enable the Trust to make arrangements with a church of another
denomination concerning the use of trust property.
Clause 12 will enable the Trust to vary the terms of a trust if it has become
impossible or inexpedient to carry out those terms.
Clause 13 will enable the Trust to be the executor or administrator of an estate in
which the Church has a beneficial interest. The clause will also enable the Trust to
accept appointment as trustee of property held for the Church's benefit.
Clause 14 will authorise the Trust to act on behalf of the Church in settling the
compensation payable in the event that any trust property is compulsorily acquired.
PART 3--VESTING OF PROPERTY IN THE TRUST
Clause 15 provides for the vesting in the Trust of property currently held in trust for
the Church.
Clause 16 provides for the vesting in the Trust of property given to, or receivable or
recoverable by, the Church in the future.
PART 4--MISCELLANEOUS MATTERS
Clause 17 provides for the use and custody of the seal of the Trust.
Clause 18 provides for the execution on behalf of the Trust of deeds and
instruments required by law to be in writing and for the entering into of oral contracts
on its behalf.
Clause 19 will enable the Trust to appoint agents to execute documents on its
behalf.
Clause 20 will enable the Trust to certify that it holds property on trust for the
Church.
Clause 21 provides that, if a person obtains a receipt for money paid to the Trust,
the person will not be liable if subsequently the money is lost or misapplied or is not
applied.
Russian Orthodox Church Property Trust 1991
Clause 22 is intended to remove the need for a person involved in a property
dealing with the Trust to inquire whether the Trust has power to deal with property and
will protect the person even if the person had notice that the Trust had no such power.
Clause 23 will entitle members of the Trust and others to
indemnified out of
trust property against liability for certain things done by them in good faith concerning
the Property.
Clause 24 provides for the service of documents on the Trust.
Clause 25 gives effect to Schedule 1, which contains savings and transitional
provisions relating to property vested in the Trust in accordance with proposed section
15.
SCHEDULE 1--SAVINGS AND TRANSITIONAL PROVISIONS
Schedule 1 provides that, when property vests in the Trust in accordance with
proposed section 15, the rights, obligations and liabilities of the former trustees in
relation to the property will become the rights, obligations and liabilities of the Trust.