Save the Steam Car Fund Act 1985 (Qld)

906 I IA ANNO TRICESIMO QUARTO ELIZABETHAE SECUNDAE REGINAE No. 62 of 1985 An Act to provide for the disposition of funds resulting from appeals commenced in the year 1980 in respect of a project for the development of a steam car known as "the Pritchard steam car" and for related purposes [ASSENTED TO 27TH SEPTEMBER, 1985]

Save the Steam Car Fund Act 1985, No. 62 907 Preamble. Whereas in the year 1980, in order to assist a project to develop a steam car known as "the Pritchard steam car", a fund called the "Save the Steam Car Fund" (hereinafter referred to as "the Fund") was set up of which Vincent Patrick Lester, M.L.A., John Aubrey Roth Lockwood, M.L.A., and Keith Webb Wright, M.L.A., (hereinafter referred to as "the original trustees") were trustees: And Whereas the original trustees subsequently paid the sum of $80,000 out of the Fund to Pritchard Steam Power Pty. Limited, a company incorporated in the State of Victoria, (hereinafter called "the company") in return for the company entering into a deed with them dated the eighth day of July 1980 whereby, inter alia, the company covenanted to repay the said sum of $80,000 to the original trustees on or before the eighth day of July 1983: And Whereas the Company has not repaid the said sum or any part thereof: And Whereas the original trustees incurred various legal and other expenses in respect of the administration of the Fund: And Whereas the original trustees by deed dated the eighteenth day of May 1983 appointed The Public Trustee of Queensland to be trustee of the Fund in their place: And Whereas the balance of the Fund is now held by the Public Trustee as trustee: And Whereas it is desirable to resolve doubts of a legal nature in respect of entitlement to the said sum of $80,000 and the moneys remaining in the Fund and to provide for the disposition of the moneys in the Fund: BE IT THEREFORE ENACTED by the Queen ' s Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland in Parliament assembled , and by the authority of the same, as follows:- 1. Short title . This Act may be cited as the Save the Steam Car Fund Act 1985. 2. Interpretation . In this Act, unless the contrary intention appears- "company" means Pritchard Steam Power Pty. Limited, a company incorporated in the State of Victoria; "deed of charge" means the deed dated the eighth day of July 1980 entered into by the original trustees with the company whereby the company, in return for a loan in the sum of $80,000 drawn by the original trustees from the Fund,

908 Save the Steam Car Fund Act 1985, No. 62 covenanted to repay that sum to the Fund on or before the eighth day of July 1983; "donees" means the company, Edward Pritchard and Marion Pretoria Pritchard; "Fund" means the "Save the Steam Car Fund" established in the year 1980 to assist the development of a steam car known as "the Pritchard steam car"; "original trustees" means the original trustees of the Fund, namely Vincent Patrick Lester, M.L.A., John Aubrey Roth Lockwood, M.L.A., and Keith Webb Wright, M.L.A.; "Public Trustee" means The Public Trustee of Queensland constituted by the Public Trustee Act1978-1981; "the loan" means the sum of $80,000 referred to in the deed of charge. 3. Discharge to the company. The company is hereby discharged from any liability in respect of the loan and its obligations pursuant to the deed of charge. 4. No claims by donees. (1) None of the donees is entitled to any moneys standing to the credit of the Fund at the passing of this Act or at any time thereafter. (2) None of the donees shall have any claim against the original trustees (or any of them) or the Public Trustee in respect of any act or thing done or omitted to be done by the original trustees or the Public Trustee in connexion with the administration of the Fund. 5. Discharge to original trustees . Each of the original trustees is hereby discharged from any liability in respect of the payment by them out of the Fund of- (a) the loan; (b) any amount in discharge of legal or other expenses incurred by them in connexion with the administration of the Fund. 6. Payment of expenses by Public Trustee. The Public Trustee shall discharge out of the Fund any legal or other expenses incurred by the original trustees, payment of which is outstanding. 7. Public Trustee' s expenses . The Public Trustee shall be entitled to retain out of the Fund any expenses incurred by him as trustee of the Fund or in carrying out the purposes of this Act. 8. Disposal of remaining moneys. (1) The Public Trustee shall cause notices to be published in the Government Gazette and in such newspapers in Queensland or elsewhere as he considers appropriate calling on all persons who have made a payment of $100 or more to the Fund and who desire a refund in respect of such payment to lodge a claim in writing with him (by a date to be specified in such notices) together with evidence supporting the claim.

Save the Steam Car Fund Act 1985, No. 62 909 (2) After the expiration of the date specified in the notices referred to in subsection (1) the Public Trustee shall repay to those persons, who have lodged claims with him and whose claims appear to him to be bona fide, the amounts paid by them to the Fund if the amount available in the fund, after allowing for any outstanding expenditure incurred or expected to be incurred by him in connexion with administering the Fund or carrying out the purposes of this Act, is sufficient so to do. If the amount available in the Fund is not sufficient to pay such persons in full he shall make payment to them pro rata in accordance with the amount of their payments to the Fund. (3) Any claim received by the Public Trustee after the date specified in the notices referred to in subsection (1) shall be disregarded and the claimant shall have no entitlement to any part of the Fund. (4) A decision of the Public Trustee disallowing a claim pursuant to this section shall be final. 9. Disposal of remaining moneys. The Public Trustee, after discharging from the Fund any expenses pursuant to section 6 or 7 or any claims allowed by him pursuant to section 8, shall pay any moneys remaining in the Fund to the University of Queensland to be applied, in such manner as is decided by the Senate of the University, towards research into automobile propulsion. 10. Discharge to Public Trustee. The Public Trustee shall be- discharged from any liability in respect of his receipt or holding or payment out pursuant to this Act of Fund moneys or otherwise in connexion with the trusts of the Fund or carrying out the purposes of this Act. 11. Exemption from stamp duty . No stamp duty shall be payable to the Commissioner of Stamp Duties in respect of any instrument declaring or evidencing the trusts of the Fund or appointing the Public Trustee to be trustee thereof.