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Melbourne (Flinders Street Land) Bill Circulation Print EXPLANATORY MEMORANDUM Clause 1 This clause sets out the purposes of the Bill, which are to divest certain land from the City of Melbourne, to revoke the current reservation and to make provision for other matters related to the land. Clause 2 The clause provides for commencement. This is to be on a day to be proclaimed, but the Act is to expire if commencement has not taken place before 31 December 2004. Clause 3 Clause 3 divests land remaining vested in the Melbourne City Council under the Melbourne (Flinders-street) Land Act 1958. A portion of the land originally vested under that Act was divested by virtue of the Melbourne Lands (Yarra River North Bank) Act 1997 and under that Act was re-reserved and placed under the management of the Council as Committee of Management. Following divestment the remaining portion of the land will become unalienated land of the Crown. The clause also ensures that any regulations made over the land under the Crown Land (Reserves) Act 1978 are revoked. Clause 4 Certain rights over the land vested in the Council were established under other Acts. This clause ensures that these rights are unaffected by the passage of this Act. Clause 5 Following passage of this Act certain provision of the Melbourne (Flinders-street) Land Act 1958 are redundant and are therefore repealed. 1 541346 BILL LA CIRCULATION 1/11/2002