74
In forceStatus of particular property on dissolution of foundation
Part 7Ending foundations
74 Status of particular property on dissolution of foundation
(1)
This section applies if—
(a)
a foundation is dissolved; and
(b)
on the dissolution, there is land—
(i)
granted, under the Land Act 1994, in trust to the foundation; or
(ii)
reserved, under the Land Act 1994, for the purposes of the foundation.
(2)
The land does not form part of the assets of the foundation for its dissolution.
This Act’s bill:Explanatory memorandumSecond reading speech
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