Queensland Consolidated Acts

ASSOCIATIONS INCORPORATION ACT 1981 - SECT 22

22 Property for an association

(1) On incorporation of an association—

(a) property held for the association or its objects, whether on trust or otherwise, becomes property of the incorporated association; and

(b) the provisions of a trust that applied to the property immediately before incorporation continue to apply.

(2) The operation of subsection (1) (a) —

(a) does not affect a covenant, contract or liability that applied to the property before the association’s incorporation; and

(b) relieves a person who held the property for the association or its objects, whether on trust or otherwise, from—

(i) liability or accountability for the property; or

(ii) being bound to see to the application, distribution or appropriation of the property.