Kennerley Trust Act 2015 (Tas)

Kennerley Trust Act 2015

An Act to validate certain actions in respect of the Kennerley Trust, to revoke the deed establishing the Kennerley Trust, to make provision for how the trust property is to be dealt with on revocation of the deed, and for related purposes [Royal Assent 4 December 2015]

Be it enacted by Her 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:

PART 1 - Preliminary

1. Short title This Act may be cited as the Kennerley Trust Act 2015 .

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

3. Interpretation In this Act – Association means the Kennerley Children's Home Inc (ABN 54 083 304 285); commencement day means the day on which this Act commences; Rules of Association means the rules of the Association, as in force from time to time, that are made as required by, and in accordance with, the Associations Incorporation Act 1964 ; Trust Deed means the Deed of Gift dated 20 March 1876 and registered in the Registry, within the meaning of the Registration of Deeds Act 1935 , on 16 January 1908 under the number 11/7412; Trustee means the position of Trustee as established by the Trust Deed; trust function or power means a function or power in respect of the Trust or the assets or liabilities of the Trust; Trust Governor means the position of Governor as established by the Trust Deed; Trusts means the trusts established under the Trust Deed.

PART 2 - Validation

4. Validation of certain actions A person who, before the commencement day, performed or exercised, or purportedly performed or exercised, a trust function or power is taken – (a) to have validly performed or exercised that trust function or power, if the function or power was performed or exercised in good faith in accordance with the Trust Deed or the Rules of Association, as in force at the time the function was performed or the power was exercised; and (b) to have held the position required in the Trust Deed, or the Rules of Association, to perform the function or exercise the power while he or she was performing the function or exercising the power.