Treasury Funds Investment Act of 1958 (7 Eliz Ii No. 70) (Qld)

278 FUNDS. Treasury Funds Investment Act. 7 E liz . II. No. 70, 7 |oLIZ70n- An Act to Authorise the Investment of certain T reasury Funds in the Treasury, and for other purposes. I nvestment act op 1958 . [A ssented to 19 th D ecember , 1958.] B E it enacted by the Queen’s Most Excellent Majesty, by and with the advice and consent of the Legis­ lative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:— Short title. 1, This Act may be cited as “ The Treasury Funds Investment Act of 1958.” Repeal of No!e° 5 .VI’ 2. *“ The Post-war Reconstruction and Development Trust Fund Act of 1943 ” is repealed and The Corporation of the Treasurer of Queensland constituted under that Act is dissolved, and, forthwith upon the passing of this Act, the account established thereunder in the Treasury called the “ Post-war Reconstruction and Development Trust Fund ” shall be discontinued and closed and the balance then standing to the credit thereof shall be paid into and form part of the Consolidated Revenue Fund: Provided that all investments made by The Corporation of the Treasurer of Queensland constituted under the Act hereby repealed and subsisting at the passing of this Act shall be deemed investments made under the authority of this Act by the corporation hereunder of The Corporation of the Treasurer of Queensland and the provisions of this Act shall, according to the particular circumstances of any such investment, apply and extend with respect thereto accordingly. investments. 3. (1.) Subject to this Act the Treasurer may from time to time invest— (a) So much of the cash balance for the time being held in the Treasury as he deems fit; and * 7 G. 6 No. 15.

FUNDS 279 1958. Treasury Funds Investment Act. (b) Moneys standing to the credit of any of the special accounts in the Treasury collectively comprised and styled the Trust and Special Funds. (2.) The Treasurer may make any such investment— (a) In any securities of or guaranteed by the Government of the Commonwealth or of the State : (b) On deposit in the Commonwealth Trading Bank; (c) On loan to any person or authority who or which is authorised by the provisions of any Act to borrow money from the Treasurer, on any security on which the Treasurer may make that loan; or (d) In such other securities as the Treasurer deems fit. (3.) The Treasurer shall not make any such investment without the prior approval of the Governor in Council, or contrary in any respect to the terms of such approval. (4.) Nothing in this Act shall authorise the Treasurer to invest any moneys to the credit of any particular special account contrary in any respect to the provisions applicable with respect to that account of any other Act. 4. (1.) For the purposes of this Act the Treasurer Treasurer and his successors in office shall be a corporation sole constituted by the name of “ The Corporation of the Treasurer of corporation Queensland ” and by that name shall have perpetualsole- succession and an official seal which shall be judicially noticed, shall be capable in law of suing and being sued, and shall have power to take, purchase, take on lease, sell, exchange, lease and hold property, real or personal, movable or immovable. (2.) For the purposes of this Act, the corporation sole constituted under this Act by the name of The Corporation of the Treasurer of Queensland shall represent the Crown and shall have and may exercise all the powers, privileges, rights and remedies of the Crown.

280 FUNDS—GIFT DUTY. Gift Duty Acts Amendment Act. 7 E liz . II. No. 43, Proceeds ot 5. (1.) Moneys received by the Treasurer in respect investments of any investment specified in paragraph (a) of subsection one of section three of this Act— (a) In repayment of principal shall be paid to the credit of the fund or funds from which the money was invested; and (b) In payment of interest, shall be paid into and form part of the Consolidated Revenue Fund. (2.) Moneys received by the Treasurer in respect of any investment specified in paragraph (6) of subsection one of section three of this Act shall be paid into the Trust and Special Funds to the credit of the special account from which the investment was made. GIFT DUTY. 7 E N l o i . z 4 . 3 I . I. An Act to Amend "The Gift Duty Acts, 1926 T he G ift D uty A cts A mendment to 1952/’ in certain particulars. A ct of 1958. [A ssented to 3 rd D ecember , 1958.] E it enacted by the Queen’s Most Excellent Majesty, B by and with the advice and consent of the Legis­ lative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:— Short title. 1. (1.) This Act may be cited as “ The Gift Duty Acts Amendment Act of 1958.” Principal (2.) *“ The Gift Duty Acts , 1926 to 1952,” are in this Act. Act referred to as the Principal Act. Collective (3.) The Principal Act and this Act may be title. collectively cited as “ The Gift Duty Acts, 1926 to 1958.” Amendment 2. Section two of the Principal Act is amended by of s. 2. repealing, in the definition of the expression “ Commissioner ” therein, the words “ Chief Deputy Commissioner of Stamp Duties ”, and inserting, in lieu of those repealed words, the words “ the Assistant Commissioner of Stamp Duties ”. * 17 G. 5 No. 23 and amending Acts.