Victorian Current Acts

THE UNITING CHURCH IN AUSTRALIA ACT 1977 - SECT 29B

    (1)     The property in Barkers Road, Kew described in the Schedule and used as a site for the Methodist Ladies College—

        (a)     is divested from the trustees appointed under the deed dated 17 January 1882 executed by the Reverend George Daniel and others and is discharged from the trusts and provisions of that deed; and

        (b)     is, to the extent that it was vested in the trustees mentioned in paragraph (a), vested in the Trust, without any further act or instrument.

    (2)     The Trust holds the property vested in it by subsection (1) as bare trustee and must, if directed to do so by resolution of the directors of the Methodists Ladies College, a company limited by guarantee (in this section called the company ) transfer that property to the company.

    (3)     The property vested in the Trust by subsection (1) is to be managed by the company.

    (4)     With the approval of the directors of the company and in accordance with the terms of any agreement entered into between the company and the Trust, the Trust may for the purposes of the company—

        (a)     dispose of, deal with, charge or encumber the property vested in it by this section; or

        (b)     acquire property; or

        (c)     borrow moneys or obtain financial accommodation.

    (5)     Subject to this section, the property vested in the Trust by subsection (1) is to be held in accordance with this Act.