Transfer of private disaster relief funds to Community Disaster Relief Fund
41 Transfer of private disaster relief funds to Community Disaster Relief Fund
Any person in whom a private disaster relief fund is vested may transfer that fund to the Secretary to form part of the Community Disaster Relief Fund.
Where the Governor is satisfied that—
a fund is a private disaster relief fund established in respect of a particular disaster,
no payment has been made from the fund for a period of one year or more to a disaster victim of that disaster, and
the fund is not likely to be applied for making payments to disaster victims of that disaster,
the Governor may, by order published in the Gazette, vest the fund in the Secretary to form part of the Community Disaster Relief Fund.
A fund may be transferred to the Secretary under subsection (1) notwithstanding any trust on which it is held.
A fund transferred to the Secretary under subsection (1), or vested in the Secretary under subsection (2), shall be held by the Secretary freed and discharged from any trust to which it was subject immediately before the transfer or vesting.
This Act’s bill:Explanatory memorandum
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