New South Wales Consolidated Acts

REGISTERED CLUBS ACT 1976 - SECT 17AI

17AI Major assets of dissolved club to be kept intact

(1) During the period of 3 years following the amalgamation of 2 or more registered clubs, the parent club must not dispose of any of the major assets of the dissolved club unless the disposal has been approved by the Authority.

Maximum penalty: 100 penalty units.

(2) The Authority may approve of the disposal of any of the major assets of the dissolved club only if the Authority is satisfied that:

(a) the disposal is necessary to ensure the financial viability of the parent club, and

(b) a majority of the members of the dissolved club have approved of the disposal.

(3) In this section:
"major assets" of a dissolved club means assets that are of a class prescribed by the regulations.