Treasurer's Incorporation Act 1949 (SA)

SOUTH AUSTRALIA

TREASURER’S INCORPORATION ACT, 1949 TREASURER’S INCORPORATION ACT, 1949 An Act to create the Treasurer a body corporate.

BE IT ENACTED by the Governor of the State of South Australia, with the advice and consent of the Parliament thereof, as follows:

Short title

1. This Act may be cited as the Treasurer’s Incorporation Act, 1949.

Interpretation

2. In this Act, unless the context otherwise requires "the Treasurer" means the Minister of the Crown holding the office of Treasurer.

Incorporation of Treasurer

3. (1) The Treasurer and his successors in office are hereby constituted a body corporate, under the name of The Treasurer of South Australia, and by that name shall have perpetual succession and a common seal and shall be capable of suing and being sued and of being a party to arbitration and of purchasing holding and alienating property of all kinds and of entering into contracts and doing any other acts which the Treasurer has by law power to do.

(2) All courts, judges and persons acting judicially shall take judicial notice of the seal of The Treasurer of South Australia when affixed to any instrument and shall until the contrary is proved presume that it was properly affixed thereto.

Transfer of securities and guarantees

4. (1) All stock, bonds, shares and other securities which at the time of the passing of this Act are held by the Treasurer in his capacity as a Minister of the Crown are hereby vested in the body corporate created by this Act.

(2) All guarantees given by the Treasurer under the Homes Act, 1941-1947, shall be deemed to have been given by the body corporate created by this Act.