LEGACY TRUST FUND BILL 2001

Queensland Bills

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This is a Bill, not an Act. For current law, see the Acts databases.

LEGACY TRUST FUND BILL 2001

Queensland LEGACY TRUST FUND BILL 2001

Queensland LEGACY TRUST FUND BILL 2001 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2 Commencement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 3 Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4 Application of Act and relationship with the Trusts Act 1973 . . . . . . . . . . . 4 5 Fund money is a controlled receipt on and after commencing day. . . . . . . . 4 6 Limitation on spending the fund money . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 7 Declaration, prohibition and barring of actions. . . . . . . . . . . . . . . . . . . . . . . 5 SCHEDULE . . . . . . . . . . . . . . . . . . . . . . . . 6 DICTIONARY

2001 A BILL FOR An Act to provide for the money standing to the credit of the Legacy Trust Fund and related accounts and funds of the department

s1 4 s6 Legacy Trust Fund Bill 2001 The Parliament of Queensland enacts-- 1 1 Short title 2 This Act may be cited as the Legacy Trust Fund Act 2001. 3 2 Commencement 4 This Act commences on a day to be fixed by proclamation. 5 3 Definitions 6 The dictionary in the schedule defines particular words used in this Act. 7 4 Application of Act and relationship with the Trusts Act 1973 8 (1) This Act applies to the amount standing to the credit of the fund 9 immediately before the commencing day (the "fund money"). 10 (2) If there is an inconsistency between this Act and the Trusts Act 1973, 11 this Act prevails to the extent of the inconsistency. 12 5 Fund money is a controlled receipt on and after commencing day 13 On and after the commencing day, the fund money is a controlled receipt 14 of the department for this Act and any other Act. 15 6 Limitation on spending the fund money 16 The Minister may spend all or part of the fund money only for the 17 following purposes-- 18 (a) a purpose that benefits persons with a vision impairment, 19 including, for example, children and workers with a vision 20 impairment; 21 (b) another purpose the Minister reasonably considers is consistent 22 with any stated condition or purpose related to an amount 23 comprising the fund money. 24

s7 5 s7 Legacy Trust Fund Bill 2001 7 Declaration, prohibition and barring of actions 1 (1) The following matters relating to the fund and the fund money end-- 2 (a) a right, other than the right of the State, to the fund or the fund 3 money; 4 (b) a liability or fiduciary obligation of the State or a State entity, 5 relating to the fund or the fund money. 6 (2) A person may not make-- 7 (a) an application under the Trusts Act 1973 relating to the fund or 8 fund money; or 9 (b) another application or a claim relating to the fund or fund money 10 against the State or a State entity for an act, omission or decision, 11 or apprehended act, omission or decision, of the State or the State 12 entity, done or made in the exercise or purported exercise of a 13 power conferred by law or by an instrument creating a trust. 14 (3) If a proceeding arising out of an application or claim mentioned in 15 subsection (2) started before the commencing day, the proceeding is stayed 16 and the court concerned must dismiss it without making an order as to 17 costs. 18

6 Legacy Trust Fund Bill 2001 SCHEDULE 1 DICTIONARY 2 section 3 3 "commencing day" means the day section 5 commences. 4 "controlled receipt" see Financial Administration and Audit Act 1977, 5 section 4(2). 6 "fund" means-- 7 (a) the departmental account of the department under the Financial 8 Administration and Audit Act 1977 called `Legacy Trust Fund'; 9 or 10 (b) another account or fund of the department, however called-- 11 (i) established or operated for the benefit of persons with vision 12 impairment; and 13 (ii) into which a bequest, contribution, donation, gift or grant 14 has been received. 15 16 Examples of other accounts-- 17 1. Queensland Talking Book Library Trust Fund 18 2. Queensland Talking Book Library-Legacy Trust Account 19 3. Queensland Industrial Institution for the Blind Legacy Trust Account 20 4. Department of Health and Home Affairs (Legacy Trust Account). "fund money" see section 4(1). 21 "stated condition or purpose" means a stated condition or purpose in a 22 trust or will, or as part of a bequest, contribution, donation, gift or 23 grant. 24 "State entity" means-- 25 (a) a Minister or a person who was a Minister; or 26 (b) a person employed or previously employed by the State; or 27 (c) another person who is or was an agent of the State in relation to 28 the fund. 29

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