After section 25B of the Principal Act , the following sections are inserted:

25C.     Voluntary transfer of incorporation

(1)  An incorporated association may apply to the Commissioner, in a form approved by the Commissioner, to become, and may become, registered or incorporated as a prescribed body corporate.

(2)  Before an incorporated association can apply to become registered or incorporated as a prescribed body corporate –

(a) the proposal to become registered or incorporated as a prescribed body corporate must have been approved by a special resolution of the incorporated association; and

(b) the special resolution must have been registered by the Commissioner under section 23 .

(3)  The Commissioner must approve an application made under subsection (1) if satisfied that subsection (2) has been complied with.

25D.     Notice to Commissioner

An incorporated association must notify the Commissioner in writing of its transfer of incorporation within 14 days after it is registered or incorporated as a prescribed body corporate.

Penalty:  Fine not exceeding 10 penalty units.

25E.     Effect of transfer of incorporation

(1)  In this section, a reference to a transfer of incorporation by an incorporated association is a reference to the registration or incorporation of the incorporated association as a prescribed body corporate.

(2)  Subject to this section, on a transfer of incorporation by an incorporated association, the incorporated association ceases to be incorporated under this Act.

(3)  The transfer of incorporation by an incorporated association does not affect the identity of the association, which is to be taken to be the same body before and after the transfer of incorporation, and no act, matter or thing is to be affected or abated by the transfer of incorporation and, in particular, any claim by or against the incorporated association subsisting immediately before the transfer of incorporation may be continued by or against the prescribed body corporate, formed by the transfer of incorporation, in the name of the incorporated association or commenced by or against the prescribed body corporate, so formed, in the name of the prescribed body corporate.

(4)  Without limiting the generality of subsection (3) , nothing in subsection (2)  –

(a) affects any right, privilege, obligation or liability acquired or incurred under this Act; or

(b) affects any penalty, forfeiture or punishment incurred in respect of any offence committed against this Act; or

(c) affects any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation, liability, penalty, forfeiture or punishment –

and any such investigation, legal proceeding or remedy may be instituted, continued or enforced and any such penalty, forfeiture or punishment may be imposed as if subsection (2) had not been enacted.

25F.     Duty and other charges not payable

A duty, tax, fee or charge which is otherwise payable under a law relating to the transfer of assets is not payable in respect of the transfer of any asset of an incorporated association from the name of that association to the name of the prescribed body corporate into which the association is transformed under the provisions of this Act.