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This is a Bill, not an Act. For current law, see the Acts databases.
South Australia
Adelaide Festival Centre Trust (Financial Restructure)
Amendment Bill 2008
A BILL FOR
An Act to amend the Adelaide Festival Centre Trust
Act 1971.
Contents
Part 1—Preliminary
1 Short
title
2 Commencement
3 Amendment provisions
Part 2—Amendment of Adelaide Festival Centre Trust
Act 1971
4 Amendment of section
4—Interpretation
5 Repeal of section 18
6 Amendment of section
20—Objects, powers etc of Trust
7 Repeal of section 23
8 Amendment
of section 24—Construction of Drama Facilities
9 Substitution of Parts
3A and 4
Part 4—Ability to transfer property
29 Ability to
transfer property
10 Repeal of Schedules 1, 2 and 3
Schedule 1—Transitional
provision
1 Transitional provision
The Parliament of South Australia enacts as
follows:
This Act may be cited as the Adelaide Festival Centre Trust (Financial
Restructure) Amendment Act 2008.
This Act will come into operation on a day to be fixed by
proclamation.
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 Adelaide Festival Centre Trust
Act 1971
4—Amendment of
section 4—Interpretation
(1) Section 4(1), definition of the vesting day—delete
the definition
(2) Section 4(2)—delete subsection (2)
Section 18—delete the section
6—Amendment of
section 20—Objects, powers etc of Trust
Section 20(1)(b)—after "improvement", second occurring,
insert:
(subject to such arrangements as may be established from time to time for
the occupation of the Centre by the Trust)
Section 23—delete the section
8—Amendment of
section 24—Construction of Drama Facilities
(1) Section 24(1)—delete "vested in the Trust or which may be vested
in the Trust" and substitute:
occupied by the Trust
(2) Section 24(1a)—delete ", not vested and not to be vested in the
Trust" and substitute:
not occupied by the Trust
(3) Section 24(1a)(a) and (b)—delete paragraphs (a) and (b) and
substitute:
(a) such means of access to land occupied by the Trust as are, in the
opinion of the Trust, necessary or desirable; and
(b) such buildings, works and conveniences, the construction and provision
of which, in the opinion of the Trust, is necessary or desirable to secure to
the Trust the full and convenient use of land occupied by the Trust.
9—Substitution of
Parts 3A and 4
Parts 3A and 4—delete the Parts and substitute:
Part 4—Ability to transfer
property
29—Ability to transfer
property
(1) In this section—
asset includes—
(a) a present, contingent or future legal or equitable estate or interest
in real or personal property; or
(b) a present, contingent or future right, power, privilege or
immunity;
liability includes a present, contingent or future liability
or obligation.
(2) Subject to subsection (3), the Governor may, by proclamation,
transfer assets or liabilities (or both) of the Trust to a Minister.
(3) Subsection (2) does not apply to any asset that the Trust holds
on trust to the extent that a transfer under that subsection would be
inconsistent with the terms or conditions of the trust.
(4) A transfer of assets or liabilities under this section operates by
force of this section and despite the provisions of any other law.
(5) Nothing done under this section—
(a) constitutes a breach of, or default under, an Act or other law;
or
(b) constitutes a breach of, or default under, a contract, agreement,
understanding or undertaking; or
(c) constitutes a breach of a duty of confidence (whether arising by
contract, in equity or by custom or in any other way); or
(d) constitutes a civil or criminal wrong; or
(e) terminates an agreement or obligation or fulfils any condition that
allows a person to terminate an agreement or obligation, or gives rise to any
other right or remedy; or
(f) releases a surety or other obligee wholly or in part from an
obligation.
10—Repeal of
Schedules 1, 2 and 3
Schedules 1, 2 and 3—delete the Schedules
Schedule
1—Transitional provision
(1) In this clause—
principal Act means the Adelaide Festival Centre Trust
Act 1971.
(2) The repeal of a provision of the principal Act by this Act does not
affect any vesting of property before the commencement of this Act (but any
property so vested may, after the commencement of this Act, be the subject of a
proclamation under section 29 of the principal Act, as enacted by this
Act).