Queensland Consolidated Acts

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ASSOCIATIONS INCORPORATION ACT 1981 - SECT 94

Vesting of property on cancellation

94 Vesting of property on cancellation

Where the incorporation of an incorporated association is cancelled under section 93 or 93B

(a) the chief executive may by gazette notice vest all or any property of such association in the public trustee; and
(b) subject to paragraph (c) the property vested in the public trustee under this section shall be held upon the trusts and for the purposes upon or for which they were held prior to being vested in the public trustee; and
(c) the chief executive may by gazette notice vary the trusts or purposes referred to in paragraph (b) and may by the same or any subsequent gazette notice vest that property or any part thereof in such persons or incorporated associations and for such purposes as the chief executive shall specify; and
(d) the receipt of the public trustee shall be sufficient discharge to any persons paying or transferring any property under this section as to the property paid or transferred, and the said persons shall not thereafter be liable or accountable therefor or be bound to see to the application, distribution or appropriation thereof.



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