New South Wales Consolidated Acts

TECHNICAL EDUCATION TRUST FUNDS ACT 1967 - SECT 6B

6B Statutory corporation ceasing to exist

(1) On the day on which a statutory corporation, that is a Statutory Trustee of a Fund, is dissolved or otherwise ceases to exist:

(a) the statutory corporation ceases to be a Statutory Trustee of the Fund, and

(b) the Fund vests, without any conveyance or other assurance, in the person who holds the office of the Director-General of the Department of Education and Training.

(2) The person who holds the office of the Director-General of the Department of Education and Training is taken to be a Statutory Trustee of any Fund that vests in that person by virtue of subsection (1), but ceases to be such a Statutory Trustee if an order is made under section 6 in relation to that Fund.