New South Wales Consolidated Acts

DORMANT FUNDS ACT 1942 - SECT 13

13 Proposals-dormant fund exceeding $10,000

(1) If the Commissioner has formulated proposals under section 11 in relation to a dormant fund the value of which exceeds $10,000, the Commissioner must publish in the Gazette and in at least one newspaper a notice that:

(a) indicates that proposals have been formulated under this Act in relation to the dormant fund, and

(b) specifies a place where the proposals can be inspected, and

(c) fixes a date (being not earlier than 30 days after the date of publication of the notice in the Gazette) on or before which any person interested in the administration, utilisation or application of the fund may lodge with the Commissioner a request in writing that the Commissioner refer the proposals to the Charity Referees, and

(d) specifies an address at which any such request can be lodged.

(1A) However, if the value of the dormant fund does not exceed $50,000 and the Commissioner considers that the proposals so formulated are clearly appropriate, the Commissioner may dispense with the publication of the notice in a newspaper. If the Commissioner does so, the Commissioner must send a copy of the notice to the persons who are or were formerly the trustees of the fund (but only in so far as they are still alive and their whereabouts are known to the Commissioner).

(1B) For the purposes of subsection (1), a notice may be published in any newspaper circulating throughout the State or, if the dormant fund was established and operated in a particular area of the State only, in any newspaper circulating throughout the State or that area.

(2)

(a) If within the time limited in the notice any such request is received by the Commissioner the Commissioner shall refer the proposals to the Charity Referees, and shall forward to the Attorney-General a copy of the request.

(b) Where proposals are referred to the Charity Referees under this section the Charity Referees may consider the proposals and any representations made to them by or on behalf of the person making the request, or the Commissioner or the Attorney-General, and may thereupon approve the proposals or vary or amend the proposals or formulate new proposals.

(c) The proposals as finally approved by the Charity Referees shall be in the form of a draft order which may make provision for any of the matters referred to in subsection (2) of section 11, and which, upon being signed by the Charity Referees, shall have effect as an order made under this Act.

(2A) A person who has made a request that a proposal be referred to the Charity Referees may, at any time before the Charity Referees have completed their consideration of the proposal, deliver or send to the Commissioner a request in writing to have the reference withdrawn.

(2B) If a reference is withdrawn, the proposal shall be dealt with as if no request has been received within the time limited in the notice.

(3)

(a) If within the time limited in the notice no such request is received by the Commissioner the Commissioner shall forward a copy of the proposals to the Attorney-General.

(b) The Attorney-General may approve of the proposals or may refer them back to the Commissioner for further consideration or may request the Commissioner to refer the proposals to the Charity Referees.

(c) Where the Attorney-General has approved of the proposals (whether as originally submitted or after they have been referred back for further consideration by the Commissioner), the Commissioner shall sign the draft order which shall thereupon have effect as an order made under this Act.

(d) Where the Attorney-General requests that the proposals be referred to the Charity Referees the Commissioner shall refer the proposals accordingly, and thereupon the provisions of paragraphs (b) and (c) of subsection (2) shall apply.