Long title
An Act to establish and regulate a Permanent Fund in connection with the Old Colonists' Association of Victoria.
An Act to establish and regulate a Permanent Fund in connection with the Old Colonists' Association of Victoria.
WHEREAS on the first day of June One thousand eight hundred and sixty-nine an Association named "The Old Colonists' Association of Victoria" was formed and is now existing in the colony of Victoria consisting of persons who have resided in the said colony for twenty years-members who arrived prior to the twenty-third of November One thousand eight hundred and fifty-five (being the day upon which constitutional government in Victoria was proclaimed) and who have since continued colonists and their male descendants being termed "Pioneers"-the objects of which Association are:
To assist necessitous old colonists by loan or otherwise:
To promulgate facts relative to the early history of the colony:
To promote the advancement of native-born Victorians:
To encourage a friendly recognition of the members:
AND WHEREAS it is expedient that the permanent fund of the said Association should be established by law and rendered indefeasible whereby the public advantage and the interests of the said Association will be greatly promoted:
s. 1
The said Association shall continue to be called and known as "The Old Colonists' Association of Victoria," and notwithstanding anything contained in the Acts numbered CCLIV and DXC there shall be established by law and rendered indefeasible the permanent fund of the said Association. Such fund shall consist of a sum of Three thousand and fifty nine dollars, eighty eight cents (of which the sum of Two thousand dollars is invested on mortgages of freehold land in the said colony, the sum of Nine hundred dollars consists of cash in bank on fixed deposit, and the remaining One hundred and fifty nine dollars, eighty eight cents consists of cash in bank now lying to the credit of a fund called by the Association the Permanent Fund), and of all future donations and bequests not otherwise specially directed by the donors thereof to be applied-all donations entitling persons to be life governors, one-half of the amount of subscriptions paid to the Association by governors, and unless excepted for an advertised purpose one-half of the net proceeds derived by the Association from all benefit performances, and all other moneys which may be lawfully paid into such permanent fund. Such fund shall be invested as the Association (subject to the control of a special meeting) may determine, and the present and future investments may be varied as the Association (subject to such control) may from time to time think fit.
S. 2 amended by No. 5901 s. 3(3).
s. 2
In addition to such moneys as the Association may from time to time receive or have received and which are not by this Act made payable into the permanent fund, only the interest arising from such permanent fund shall be appropriated in payment of any of the objects of the Association.
S. 3 repealed by No. 5901 s. 5(4)(b).
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S. 4 amended by No. 5901 s. 5(4)(c).
Every agreement made by any officers to pay any moneys out of the said permanent fund shall be null and void, and any officers making such agreement or paying any moneys out of such permanent fund contrary to the provisions of this Act shall be guilty of a misdemeanour, and being convicted thereof shall be liable at the discretion of the Court to be imprisoned for any term not exceeding three years.
The Old Colonists' Association Act 1882 was assented to on 14 August 1882 and came into operation on 14 August 1882.
This Version incorporates amendments made to the Old Colonists' Association Act 1882 by Acts and subordinate instruments.
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Old Colonists' Association Act 1955, No. 5901/1955
Assent Date: 29.11.55
Commencement Date: 29.11.55
Current State: All of Act in operation
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