Terang Mechanics Institute and Free Library Trust Act 1973 (Vic)

Version No. 001

Terang Mechanics Institute and Free Library Trust Act 1973

Act No. 8584/1974

Version as at 26 February 2003

TABLE OF PROVISIONS

Section  Page

1.Short title and commencement

2.Power to trustees to transfer and surrender land to Her Majesty

3.Effect of registration on transfer

4.Trustees to cease to be liable

5.Leases and trust property and application of rent

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SCHEDULE

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ENDNOTES

1.  General Information

2.  Table of Amendments

3.  Explanatory Details

Version No. 001

Terang Mechanics Institute and Free Library Trust Act 1973

Act No. 8584/1974

Version as at 26 February 2003

An Act to enable the Surrender to Her Majesty of the Property of the Terang Mechanics Institute and Free Library Trust free of the Trust and of a certain Mortgage, to facilitate the Appointment of the Shire of Hampden as a Committee of Management thereof under the Land Act 1958, and for Purposes connected therewith.

Preamble

WHEREAS the Terang Mechanics Institute and Free Library Trust (hereafter in this Act referred to as the "Trust") is registered under the provisions of the Religious Successory and Charitable Trusts Act 1958 in the Register of Successory Trusts, Folium 462:

WHEREAS the Trust is registered under the Transfer of Land Act 1958 as the proprietor of all those pieces of land described in the Schedule to this Act on which is erected the building known as the Terang Mechanics Institute and Free Library:

WHEREAS the trustees of the Trust (hereafter in this Act referred to as the "trustees") are bound by declaration of trust made the 22nd day of May, 1958, to hold and apply the property of the Trust for or towards the purposes of the Terang Mechanics Institute and Free Library:

WHEREAS the property of the Trust is subject to a mortgage in favour of the Treasurer of Victoria to secure the repayment of $40,000 paid by the Treasurer of Victoria on behalf of the Trust and the Trust has made default in making payments under the mortgage:

WHEREAS the moneys received by the trustees by way of income from the trust property are no longer sufficient to enable the trustees to comply with the provisions of the mortgage:

WHEREAS the President Councillors and Ratepayers of the Shire of Hampden (hereafter in this Act referred to as the "Shire of Hampden") have agreed to manage and control the trust property on and after the First day of October, 1973, for use for public purposes:

AND WHEREAS it appears to be desirable in the public interest that the trust property should be surrendered to Her Majesty free of the trust declared on the 22nd day of May, 1958, and of the mortgage for the purpose of facilitating the appointment of the Shire of Hampden as a committee of management under the Land Act 1958 of the property:

BE IT THEREFORE ENACTED by the Queen's Most Excellent Majesty by and with the advice and consent of the Legislative Council and the Legislative Assembly of Victoria in this present Parliament assembled and by the authority of the same as follows (that is to say):

1.Short title and commencement

(1)This Act may be cited as the Terang Mechanics Institute and Free Library Trust Act 1973.

(2)This Act shall come into operation on the day on which it receives the Royal Assent.

2.Power to trustees to transfer and surrender land to Her Majesty

Notwithstanding anything to the contrary in any Act or law or in the deed of trust declared by the trustees of the Terang Mechanics Institute and Free Library on the 22nd day of May, 1958, and registered under Part II of the Religious Successory and Charitable Trusts Act 1958 the trustees for the time being of the Trust may transfer and surrender to Her Majesty the land described in the Schedule.

3.Effect of registration on transfer

Upon the registration in the Office of Titles of an instrument of transfer of the land described in the Schedule from the trustees to Her Majesty the land shall be deemed—

(a)to be freed and discharged from the said trust as on and from the First day of October, 1973, and from any further liability to the Treasurer of Victoria under the said mortgage; and

(b)to be unalienated land of the Crown freed and discharged from all trusts encumbrances limitations and restrictions whatsoever and from every estate or interest therein and may pursuant to the Land Act 1958 be reserved for public purposes.

4.Trustees to cease to be liable

Upon the surrender to Her Majesty under this Act of the trust property the trustees shall in respect of that property be freed and discharged from all liability under the trust.

5.Leases and trust property and application of rent

(1)Notwithstanding anything to the contrary in any Act or law the Shire of Hampden, when appointed as committee of management of the property so surrendered and reserved may from time to time grant a lease of the whole or any part of the land described in the Schedule for business, social, or recreational activities or for purposes connected therewith.

(2)Any lease under this section—

(a)shall be subject to such covenants, conditions, exceptions, and reservations as the Shire of Hampden thinks fit;

(b)shall be for a term not exceeding 21 years; and

(c)shall be subject to approval by the Governor in Council.

(3)The moneys received by way of rent under any such lease shall be applied by the Shire of Hampden towards the maintenance and improvement of the land described in the Schedule or for any other purpose approved by the Minister.

(4)No compensation shall be payable by the Crown in respect of any act matter or thing done under or arising out of this section.

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SCHEDULE

All those pieces of land being—

(a)Crown Allotment A Section 2A Parish of Terang and being the whole of the land described in Certificate of Title Volume 4631 Folio 034;

(b)Crown Allotment C Section 2A Parish of Terang and being the whole of the land described in Crown Grant Volume 8113 Folio 979;

(c)Crown Allotment B Section 2A Parish of Terang and being the whole of the land described in Certificate of Title Volume 8121 Folio 897.

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ENDNOTES

1.     General Information

The Terang Mechanics Institute and Free Library Trust Act 1973 was assented to on 22 October 1974 and came into operation on 22 October 1974: section 1(2).

2.     Table of Amendments

There are no amendments made to the Terang Mechanics Institute and Free Library Trust Act 1973 by Acts and subordinate instruments.

3.     Explanatory Details

No entries at date of publication.