Jim Bacon Foundation (Winding-up) Act 2013 (Tas)

Jim Bacon Foundation (Winding-up) Act 2013

An Act to provide for the winding-up of the Jim Bacon Foundation and the distribution of the funds of the Foundation [Royal Assent 24 July 2013]

Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:

1. Short title This Act may be cited as the Jim Bacon Foundation (Winding-up) Act 2013 .

2. Commencement This Act commences on the day on which this Act receives the Royal Assent.

3. Interpretation In this Act, unless the contrary intention appears – commencement day means the day on which this Act commences; Jim Bacon Foundation means the foundation by that name established under the repealed Act; Ponting Foundation means the trust established by Ricky Thomas Ponting and Rianna Jennifer Ponting by trust deed dated 25 March 2008 appointing Ponting Foundation Limited (ACN 130 147 689) as trustee; repealed Act means the Jim Bacon Foundation Act 2004 .

4. Dissolution of Jim Bacon Foundation On the commencement day, the Jim Bacon Foundation is dissolved.

5. Transfer of assets and liabilities (1) On the commencement day – (a) the assets of the Jim Bacon Foundation vest in the Ponting Foundation; and (b) the liabilities of the Jim Bacon Foundation become the liabilities of the Crown. (2) State tax is not payable in respect of any document prepared, or transfer or transaction done, to give effect to subsection (1) . (3) In this section – State tax means any of the following imposed by an Act or law of this State: (a) a fee; (b) a tax or duty; (c) a charge.