New South Wales Consolidated Acts

GREATER NEWCASTLE (AMENDMENT) ACT 1940 - SECT 3

3 Validation of scheme

(1) The agreement is hereby ratified and confirmed.

(2) Without prejudice to the generality of subsection one of this section:

(a) the execution by the Board of the agreement is validated,

(b) the establishment by the Board pursuant to the agreement of a superannuation fund, the payment of moneys to that fund by the Board pursuant to the agreement, and the payment of moneys by the Board out of that fund pursuant to the agreement, are hereby validated.

(3) The rule of law relating to perpetuities shall not apply and shall be deemed never to have applied to or in respect of the trusts of the scheme arising out of the agreement, or out of the agreement as altered by any instrument lawfully made after the commencement of this Act.

(4) The provisions of the Truck Act of 1900 , or of section forty-nine of the Industrial Arbitration Act 1912 , or of section ninety-two of the Industrial Arbitration Act 1940 , or of any Act amending or replacing those provisions, shall not apply and shall be deemed never to have applied in respect of deductions from the wages or salary of a contributor to the scheme of the amount of the contribution payable by such contributor thereto.

(5) The agreement shall be, and shall be deemed always to have been, an agreement with the Board within the meaning of paragraph (e) of subsection two of section twenty-one of the Greater Newcastle Act 1937 , as amended by subsequent Acts, and in force immediately before the appointed day referred to in that section.