Tasmanian Early Years Foundation (Winding-up) Act 2016 (Tas)

Tasmanian Early Years Foundation (Winding-up) Act 2016

An Act to provide for the winding-up of the Tasmanian Early Years Foundation and for related matters [Royal Assent 7 October 2016]

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:

1. Short title This Act may be cited as the Tasmanian Early Years Foundation (Winding-up) Act 2016 .

2. Commencement This Act commences on a day to be proclaimed.

3. Interpretation In this Act, unless the contrary intention appears – commencement day means the day on which this Act commences; Foundation means the Tasmanian Early Years Foundation established under section 4 of the repealed Act; repealed Act means the Tasmanian Early Years Foundation Act 2005 ; State tax means any of the following imposed by an Act or law of this State: (a) a fee; (b) a tax or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; (d) any other impost.

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

5. Transfer of assets and liabilities (1) On the commencement day – (a) the assets of the Foundation vest in the Crown; and (b) the liabilities of the 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) .

6. Construction of documents (1) In this section – document means a document, or part of a document, that – (a) was in force immediately before the commencement day; and (b) contains a reference to the Tasmanian Early Years Foundation; and (c) relates to an asset or liability of the Tasmanian Early Years Foundation. (2) Unless the context or subject matter of a document otherwise requires, on and after the commencement day a reference in the document to the Tasmanian Early Years Foundation is taken to be or to include a reference to the Crown.