54Transfer of property

54 Transfer of property (1) Subject to this section and section 110, an incorporated association may, by resolution passed in accordance with its constitution, determine to transfer all its real and personal property to: (a) another body, whether incorporated or unincorporated, formed for promoting objects similar to its own or charitable objects; or (b) a local government council for the area in which the property is situated. (2) The resolution is of no effect if the association does not, within 14 days after the passing of a resolution referred to in subsection (1): (a) file a copy of the resolution with the Director; and (b) give notice of its intention to transfer all its property in accordance with the resolution published in: (i) a newspaper circulating in the part of the Territory where the association carries on its activities; and (ii) any other publication circulating in that part of the Territory that the Director considers appropriate; and (iii) the Gazette. (3) A member of the association who did not vote in favour of the resolution may, within 28 days after publication of the resolution under subsection (2), apply to the Supreme Court for an order prohibiting the association from transferring its property. (4) A creditor of the association may, within 28 days after publication of the resolution under subsection (2), apply to the Supreme Court for an order prohibiting the association from transferring its property on the ground that the creditor's debt has not been paid. Associations Act 2003 39 (5) The Court may determine the matters in question as it considers (6) The association must not transfer its property: (a) until 28 days after the publication of the last notice given under subsection (2)(b); or (b) if an application to the Court has been made under subsection (3), unless the Court permits the transfer; or (c) after a letter has been sent to the association under section 65(1), or a notice is issued under section 65(4), unless the Director has, in writing, informed the association that the Director is satisfied the association is carrying out its functions or is in operation; or (d) if Part 9 applies to the association, other than in accordance with that Part; but this subsection does not affect the title of a bona fide transferee under a transfer of a kind to which this subsection applies. (7) When the association has completed the transfer of all its property under this section: (a) the public officer of the association must immediately file notice of its completion with the Director; and (b) after 3 months after the filing of the notice under paragraph (a), the association is taken to be dissolved. (8) This section, other than subsection (6), does not prevent an association making gifts that do not constitute the whole or the greater part of its property or the disposal of property under section 55.