Victorian Bills Explanatory Memoranda

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ROYAL VICTORIAN INSTITUTE FOR THE BLIND AND OTHER AGENCIES (MERGER) BILL 2005

Royal Victorian Institute for the Blind and other
            Agencies (Merger) Bill

                         Introduction Print

              EXPLANATORY MEMORANDUM


                               Clause Notes
Preamble   provides a summary of the background to the Bill.
           Three charitable organisations that provided services for the
           blind and vision impaired merged their activities into a single
           organisation under a scheme of arrangement approved by the
           Federal Court in July 2004.
           The three organisations were the Royal Victorian Institute for the
           Blind, the Royal Blind Society of New South Wales and Vision
           Australia Foundation. Under the scheme, all the property,
           undertakings and liabilities of those bodies were vested in a new
           combined agency, Vision Australia Ltd.
           The purpose of the Bill is to provide that any bequests, gifts or
           trusts in favour of any of the three merged organisations that had
           not vested before the merger do not fail but have effect as if made
           in favour of Vision Australia Ltd.

Clause 1   states the purpose of the Bill.

Clause 2   provides for the commencement of the Act.

Clause 3   defines certain terms for the purposes of the Bill, including the
           new Combined Agency and the merged agencies.

Clause 4   provides for the saving of bequests, gifts, dispositions and trusts
           expressed to be in favour of any of the merged agencies.
           Sub-clause (1) provides that the clause applies if, before, on or
           after the commencement of the Act and whether before, on or
           after the date of the merger, a bequest, gift, disposition or trust of
           property had been declared or a trust fund created in favour of
           any of the merged agencies.




                                       1
551351                                        BILL LA INTRODUCTION 16/8/2005

 


 

Sub-clause (2) provides that any such bequests, gifts, dispositions or trusts take effect as if made in favour of Vision Australia Ltd and, where made for a charitable purpose of a merged agency, take effect for a corresponding charitable purpose of Vision Australia Ltd. 2

 


 

 


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