Queensland Numbered Acts

HOSPITAL FOUNDATIONS ACT 2018 - SECT 53

53 Foundation may enter into special financial arrangement

(1) A foundation may enter into a special financial arrangement under an approval under division 4 .

(2) However, a foundation does not need to obtain an approval under division 4 to—

(a) acquire, by way of a gift, devise or bequest, any of the following—

(i) the whole or a part of a business;

(ii) bonds, debentures, inscribed stock, shares, stock or other securities;

(iii) foreign currency; or

(b) dispose of land, an interest in land or a building if the land, interest in land or building was acquired by the foundation by way of a gift, devise or bequest.