McGarvie Smith Institute Incorporation Act 1928 (NSW)

McGarvie Smith Institute Incorporation Act 1928 No 28

An Act to incorporate and to promote the objects of the McGarvie Smith Institute; to confer and impose upon that body certain powers, duties, rights, and liabilities; to transfer and vest in it the property of the said Institute; and for purposes connected therewith.

1 Name of Act This Act may be cited as the McGarvie Smith Institute Incorporation Act 1928.

2 Definitions In this Act, unless the context or subject-matter otherwise requires— Body corporate means the body corporate constituted by this Act. Duly verified means sealed with the seal of the body corporate and certified as correct by a member of its governing body. Founder means the late John McGarvie Smith. Registered means registered in the office of the Registrar-General.

3 Incorporation (1) For the purposes of carrying out the wishes of the founder and for the benefit of the pastoralists of the State of New South Wales a body corporate is hereby constituted, to be known as the McGarvie Smith Institute. (2) The said McGarvie Smith Institute shall by that name have perpetual succession and a common seal, and may sue and be sued or otherwise appear and answer, be answered or proceed, or be proceeded against in all courts. (3) The body corporate shall be capable in law of taking, purchasing, and holding to it and its successors, and may take, purchase, and hold lands and other real estate and chattels and other personal property, and shall be capable of selling, demising, or otherwise disposing of, and may sell, demise, or otherwise dispose of the same for the purposes of the body corporate, and shall have power to do all other things incidental to a body corporate.

4 Vesting of property (1) All property real or personal vested in or held by or on behalf of the trustees of the unincorporated body known as the McGarvie Smith Institute is hereby transferred to and vested in the body corporate and the trustees of the said unincorporated body are hereby divested of all such property of which they are seised or possessed as such trustees, and all property held by the trustee of the will of the late John McGarvie Smith in trust for the McGarvie Smith Institute but subject to any life estates or interests shall be held by the said trustees subject to the said estates or interests in trust for the body corporate. (2) The body corporate shall be entitled to the benefit of all contracts entered into by the trustees of the said unincorporated body and to carry the same into effect and to sue upon the said contracts as if they had been entered into by the body corporate.