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This is a Bill, not an Act. For current law, see the Acts databases.
South Australia
The Wyatt Benevolent Institution Incorporated (Objects)
Amendment Bill 2020
A BILL FOR
An Act to amend the
The
Wyatt Benevolent Institution Incorporated Act 1935
.
Contents
Part 2—Amendment of The Wyatt
Benevolent Institution Incorporated Act 1935
3Substitution of sections 2 to
8
4Continuation of
Institution as body corporate
The Parliament of South Australia enacts as
follows:
This Act may be cited as the The Wyatt Benevolent Institution
Incorporated (Objects) Amendment Act 2020.
In this Act, a provision under a heading referring to the amendment of a
specified Act amends the Act so specified.
Part 2—Amendment
of The Wyatt Benevolent Institution Incorporated
Act 1935
3—Substitution
of sections 2 to 8
Sections 2 to 8 (inclusive)—delete the sections and
substitute:
2—Interpretation
In this Act, unless the contrary intention appears—
2020 Amendment Act means
The
Wyatt Benevolent Institution Incorporated (Objects) Amendment
Act 2020
;
Board means the board of Governors for the time being of the
Institution;
Institution means The Wyatt Benevolent Institution
Incorporated;
land includes all tenements and hereditaments corporeal and
incorporeal of every kind and description, and every estate and interest in
land;
property includes any thing in action, and any interest in
real or personal property (including land);
securities include stocks, funds and shares;
Wyatt Trust means the trusts of the will of William
Wyatt.
3—Objects of Institution
(1) The objects of the Institution are to provide assistance to persons in
poor and needy circumstances.
(2) For the purposes of achieving the objects of the
Institution—
(a) assistance may be provided by making grants of money to such persons
out of the income or capital of the funds or other property of the Institution
or in such other manner as the Board may from time to time determine;
and
(b) the Institution (in addition to the funds and other property under its
control) may acquire property by purchase, gift, devise, donation, subscription
or otherwise; and
(c) preference is to be given to persons who have been resident in South
Australia for a period of at least 5 years.
(3) Money or trust funds held by the Institution immediately before the
commencement of the 2020 Amendment Act (including money or other property
held as part of the Wyatt Trust) may be applied to or for the purposes of the
objects of the Institution after the commencement of the 2020 Amendment
Act, despite the fact that such application may be inconsistent with the Wyatt
Trust and the objects of the Institution as they existed before that
commencement.
(4) The Wyatt Trust is varied by force of this section to the extent
necessary to provide consistency with this section.
4—Continuation of Institution as body
corporate
The Institution—
(a) incorporated on 23 May 1881 continues in existence as a body
corporate; and
(b) has perpetual succession and a common seal; and
(c) can sue and be sued in its corporate name; and
(d) has the functions and powers assigned or conferred under this or any
other Act.
5—Functions and powers
(1) The Institution
has, in addition to any other powers conferred on it under this or any other
Act, all the powers of a natural person.
(2) Without limiting
subsection (1)
, in exercising its functions and powers, the Institution
may—
(a) grant, receive, acquire, purchase and hold land; and
(b) purchase, accept, acquire, hold, mortgage, let, lease, demise, sell,
exchange, transfer, convey, assign, alienate, dispose of and deal with property;
and
(c) act as the trustee of other funds, accept gifts or donations from a
person or body and otherwise receive money or property from a lawful source,
including gifts or donations subject to trusts that are not inconsistent with
the objects of the Institution; and
(d) manage money or other property as the Institution thinks fit and, in
doing so, combine funds or other property (including funds or other property
subject to separate trusts or held for separate purposes), subject to complying
with relevant accounting standards and being able, as appropriate, to separately
account for different classes of funds and other property; and
(e) apply a benefit, or provide assistance, to persons either directly or
indirectly through a third party involved in the provision of services or
financial or other support; and
(f) build on or improve land for the time being owned by or under the
control of the Institution; and
(g) do any other thing necessary or convenient to further its
objects.
6—Financial provisions
(1) The assets and income of the Institution or the Wyatt Trust must be
applied solely to further the objects of the Institution.
(2) The assets and income of the Institution or the Wyatt Trust (either
wholly or in part) must not be distributed directly or indirectly to the members
of the Board except as genuine compensation for services rendered or expenses
incurred on behalf of the Institution or the Wyatt Trust.
(3) The Institution may invest its money or trust funds (either wholly or
in part) in an investment or security authorised by law for the investment of
trust funds and may vary such investments and securities as the Board thinks fit
into or for any other investment or security of a similar nature.
(4) The Board may, for the purpose of building or otherwise improving land
belonging to the Institution, borrow money and secure its repayment by mortgage
of the land (or a portion of the land) or in such other manner as the Board may
from time to time determine.
Section 16—delete the section and substitute:
16—Validity of acts
An act or proceeding of the Institution or the Board is not invalid by
reason only of—
(a) a vacancy in its membership or a defect in the appointment of a
member; or
(b) the fact that the act or proceeding was done or executed prior to the
commencement of the 2020 Amendment Act.
17—Application of other Acts
The
Subordinate
Legislation Act 1978
does not apply to a regulation (within the meaning of the
Subordinate
Legislation Act 1978
) made under this Act by the Institution or the Board if the regulation
relates to—
(a) the status of the Institution as a deductible gift recipient under a
law of the Commonwealth; or
(b) any other prescribed matter, or matter of a prescribed kind.
18—Interaction with other Acts
This Act is in addition to, and does not derogate from, the
Trustee
Act 1936
.
19—Regulations
The Governor may make such regulations as are contemplated by this Act, or
as are necessary or expedient for the purposes of this Act.