ASSOCIATIONS INCORPORATION REFORM ACT 2012 (NO. 20 OF 2012) - SECT 32 Disposal of trust property

ASSOCIATIONS INCORPORATION REFORM ACT 2012 (NO. 20 OF 2012) - SECT 32

    (1)     This section applies if—

        (a)     property is held by an incorporated association on trust; and

        (b)     the trust has come wholly or partly to an end; and

        (c)     there is no power to dispose of the property contained in, or the disposal of the property is prohibited by—

              (i)     the deed or other instrument creating or embodying the trust; or

              (ii)     the rules of the association.

    (2)     The secretary of the association may, with the authority of the committee, apply to the Minister for authority to dispose of the whole or part of the property.

    (3)     If an application is made under subsection (2), the Minister may, in writing—

        (a)     authorise the disposal of the property, or a specified part of the property; and

        (b)     direct the manner in which the proceeds from the disposal of the property must be dealt with.

    (4)     On the authority of the Minister under subsection (3), the association may—

        (a)     dispose of the property, or part of the property, specified in the authorisation, free from any trusts; and

        (b)     deal with the proceeds in the manner directed by the Minister.