AUSTRALIAN INSTITUTE OF ANATOMY AGREEMENT.
Act No. 12 of 1933.
An Act to amend the Australian Institute of Anatomy Agreement Act 1924-1931.
[Assented to 24th July, 1933.]
BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—
Short title and citation.
1.—(1.) This Act may be cited as the Australian Institute of Anatomy Agreement Act 1933.
(2.) The Australian Institute of Anatomy Agreement Act 1924-1931 is in this Act referred to as the Principal Act.
(3.) The Principal Act, as amended by this Act, may be cited as the Australian Institute of Anatomy Agreement Act 1924-1933.
2. After section three of the Principal Act the following section is inserted:—
Agreements in relation to donations
“4. The Treasurer may enter into an Agreement in regard to any sum of money which may be contributed for any purpose connected with the Australian Institute of Anatomy, and may appoint one or more trustees to secure the accomplishment of the purpose.”.
Overview
The Australian Institute of Anatomy Agreement Act 1933 was enacted to amend the Australian Institute of Anatomy Agreement Act 1924-1931, thereby addressing the need to facilitate contributions for the purposes of the Australian Institute of Anatomy. This legislation was enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, reflecting its significance in supporting the Institute's activities. The primary policy objective of the Act is to enable the Treasurer to enter into agreements regarding financial contributions and to appoint trustees to ensure the effective use of these contributions for the Institute's objectives.
The Act introduces a new section, 4, which allows the Treasurer to enter into agreements related to donations for the Australian Institute of Anatomy, and to appoint trustees to manage these funds. This amendment enhances the Institute's ability to secure financial support and ensures that any contributions are appropriately managed and utilised for the intended purposes.
Scope and Application
The Australian Institute of Anatomy Agreement Act 1933 is an amendment to the Australian Institute of Anatomy Agreement Act 1924-1931, providing specific authority to the Treasurer to enter into agreements regarding contributions of money for purposes connected with the Australian Institute of Anatomy. This Act applies to the Treasurer and any trustees appointed by the Treasurer to manage such contributions. The scope of the Act is limited to financial contributions and agreements related to the Australian Institute of Anatomy, extending no further than what is necessary to facilitate donations for the purposes of the Institute. The Act operates within the Commonwealth jurisdiction, and it does not explicitly state any exclusions or exemptions. The application of the Act may be extended or clarified through subordinate instruments, but such details are not provided within the text of the Act itself. The Act allows for the Treasurer to manage and oversee financial agreements concerning the Institute, ensuring that any contributions are appropriately directed and managed for their intended purposes.
Key Provisions
The Australian Institute of Anatomy Agreement Act 1933 amends the Australian Institute of Anatomy Agreement Act 1924-1931, introducing new provisions for the management and use of donations. Section 4 of the Act allows the Treasurer to enter into agreements for any contributions made for purposes related to the Australian Institute of Anatomy. Additionally, the Treasurer is empowered to appoint one or more trustees to ensure that the intended purpose of these contributions is achieved. This provision ensures that donations are effectively managed and utilised for their intended purposes.
Under the Act, the Treasurer's role is pivotal in facilitating agreements related to financial contributions to the Australian Institute of Anatomy. The insertion of Section 4 imposes a clear obligation on the Treasurer to oversee the agreements and the appointment of trustees. These trustees are expected to act diligently to ensure that the donations are used as intended, thereby maintaining the integrity and purpose of the contributions. Their responsibilities would include managing the funds, ensuring they are applied to the specified purposes, and reporting as necessary to the Treasurer.
Failure to comply with the requirements set out in the Act can result in significant consequences. While the Act does not explicitly detail specific offences or penalties, breaches of fiduciary duties or mismanagement of funds could potentially lead to legal action under common law principles of trust and equity, or other relevant statutes. Trustees who fail in their duties may be held personally liable for any mismanagement or misappropriation of funds, and could face civil penalties or legal proceedings aimed at rectifying the misuse of the donated money. The overarching aim of the Act is to safeguard the proper use of donations, ensuring they benefit the Australian Institute of Anatomy as intended by the contributors.