University of Queensland (Confirmation of Powers) Act 1985 (Qld)

323 (1ueert3hutb ELIZABETHAE SECUNDAE REGINAE ANNO TRICESIMO QUARTO No. 28 of 1985 An Act to confirm and declare the power of The University of Queensland- (a) to cause the formation of the companies University of Queensland Foundation Ltd. and Uniquest Limited; (b) to make with University of Queensland Foundation Ltd. a deed of trust dated 23 March 1982 pursuant to which- (i) the University established a foundation called " UNIVERSITY OF QUEENSLAND FOUNDATION TRUST"; (ii) University of Queensland Foundation Ltd. is trustee of that foundation; (c) to contract or otherwise arrange with University of Queensland Foundation Ltd. or Uniquest Limited for the use by it of the facilities and staff of the University, and for matters related thereto [ASSENTED TO 15TH APRIL, 1985]

324 University of Queensland (Confirmation of Powers) Act 1985, No. 28 Preamble . Whereas University of Queensland Foundation Ltd. was incorporated as a company under the Companies Act 1961-1981,- And whereas Uniquest Limited was incorporated as a company under the Companies (Queensland) Code, And whereas The University of Queensland caused the formation of each of those companies: And whereas pursuant to a deed of trust dated 23 March 1982 and made between The University of Queensland and University of Queensland Foundation Ltd.- (a) The University of Queensland established a foundation called "UNIVERSITY OF QUEENSLAND FOUNDATION TRUST": (b) University of Queensland Foundation Ltd. is trustee of that foundation; And whereas The University of Queensland has contracted or otherwise arranged with University of Queensland Foundation Ltd. for the use by it of the facilities and staff of the University: And whereas The University of Queensland has contracted or otherwise arranged with Uniquest Limited for the use by it of the facilities and staff of the University: And whereas doubts have arisen as to whether it was competent to The University of Queensland- (a) to cause the formation of those companies: (b) to make the said deed of trust: and (c) to contract or otherwise arrange with eitber of those companies as aforesaid: And whereas it is expedient to make provision to remove these doubts: 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 University of Queensland (Confirmation of Powers) Act 1985. 2. Interpretation . In this Act, unless the contrary intention appears- "the companies" means the incorporated companies University of Queensland Foundation Ltd. and Uniquest Limited; "the Senate" means the Senate of the University as constituted by the University of Queensland Act 1965-1984; "the University" or "The University of Queensland" means The University of Queensland constituted under the University of Queensland Act 1965-1984.

University of Queensland (Confirmation of Powers) Act 1985, No. 28 325 3. Confirmation of powers . It is hereby declared- (a) that it was competent to the University- (i) to cause the formation of the companies University of Queensland Foundation Ltd. and Uniquest Limited; (ii) to make with University of Queensland Foundation Ltd. the deed of trust dated 23 March 1982 pursuant to which- (A) the University established a foundation called 'UNIVERSITY OF QUEENSLAND FOUNDATION TRUST"; (B) University of Queensland Foundation Ltd. is trustee of that foundation; (b) that at all material times it was competent to the University to contract or otherwise arrange with each of the companies University of Queensland Foundation Ltd. and Uniquest Limited for the use by it of the University's facilities and staff and subject to section 5 the University may continue to so contract or otherwise arrange with each of those companies. 4. Indemnity . Neither the Senate nor any member thereof shall be held to have exceeded its or his powers under the University of Queensland Act 1965-1984 in respect of the incorporation of either of the companies or in respect of the making of contracts or arrangements such as are referred to in section 3 with either of the companies nor shall any member of the board of governors of University of Queensland Foundation Ltd. or of the board of directors of Uniquest Limited who is also a member of the Senate be held to have been subject to a conflict of interests in respect thereof. 5. Use of facilities and staff . With the consent of the Senate first obtained and subject to such terms and conditions (if any) as are imposed by the Senate either generally or in the particular case it is competent to the University to contract or otherwise arrange with each of the companies for the use by it of the facilities and staff of the University and to perform its obligations and exercise and enforce its rights under the contract or arrangement. 6. Companies to furnish returns, etc. Each of the companies shall furnish the Senate with such reports. returns and information relative to the company's affairs as are from time to time required by the Senate. 7. Auditor. (1) The Auditor-General shall audit the books and accounts of each of the companies and shall, for the purposes of the Companies (Queensland) Code, be taken to have been appointed auditor pursuant to that Code. (2) The Auditor-General shall furnish a copy of each report made by him under section 285 of the Companies (Queensland) Code that relates to either of the companies to the Minister of the Crown for the

326 University of Queensland (Confirmation of Powers) Act 1985, No. 28 time being charged with the administration of the University of Queensland Act 1965-1984 and to the Senate. (3) Notwithstanding the Companies (Queensland) Code it is not competent to either of the companies to remove the Auditor-General from his office as auditor of the company.