sec.35BDisaster relief funds and their application

sec.35B Disaster relief funds and their application

In this section— disaster relief fund means any fund raised by or resulting from any appeal for support for the purpose of assisting persons suffering distress, whether physical, mental or financial, as a result of any catastrophe or disaster arising from natural causes, inevitable accident, wilful act or negligence. In any case where the Governor in Council is satisfied that— a fund is a disaster relief fund; no payment has been made from moneys (whether invested or not) in or belonging to that fund for a period of 1 year or more; those moneys do not appear likely to be applied for the benefit or relief of any of the persons for whose benefit or relief that fund was established; a regulation may vest all or any of such moneys (whether invested or not) in the public trustee who shall— in the case of moneys not invested—pay such moneys to the credit of the disaster appeals trust fund (the trust fund ); in the case of invested moneys—realise the investments when directed to do so by the committee and pay the proceeds of such realisation to the trust fund, and in the meantime hold such investments on behalf of the trust fund. Moneys vested in the public trustee under this section shall vest freed and discharged from all trusts to which they are or may be subject. If a regulation is made under this section about a fund declared, under a regulation, to be a disaster relief fund and— there is an insubstantial variation between the name of the fund indicated in the regulation and the name in which the fund is held; and the public trustee is satisfied that the fund indicated in the regulation is the same fund as that so held; a certificate under the hand and seal of the public trustee that, in the circumstances as aforesaid, the funds so named are one and the same fund shall, until the contrary is proved, be sufficient evidence of the matters stated and be acted upon by any person required to make any payment or transfer with respect thereto. In subsection (6) — the name in which the fund is held includes the name— of any account relating to the fund; and in which any fund moneys are invested; and in which any security is held in respect of moneys so invested. The receipt of the public trustee shall be a full and sufficient discharge to any governing body or any persons paying or transferring any moneys or investments in pursuance of this section as to the moneys or investments made or transferred, and such governing body or persons shall not thereafter be liable or accountable therefor or be bound to see to the application, distribution or appropriation thereof. The committee may from time to time direct the public trustee (who shall comply with such direction)— to invest any moneys standing to the credit of the trust fund in any authorised trustee investment nominated by the committee; to realise any investment so made; and income arising from any such investment shall be paid into and form part of the trust fund. The committee may from time to time, with the approval of the Governor in Council, direct the public trustee to pay or apply the whole or any part of the moneys standing to the credit of the trust fund, including moneys derived from the realisation of investments— for the benefit or relief of any of the persons for whose benefit or relief a fund referred to in subsection (2) was established; or to or for the use or benefit of any other fund that in the opinion of the committee is a disaster relief fund; and in any such case the public trustee shall pay or apply the moneys the subject of the direction in accordance with the terms of such direction. s 35B ins 1975 No. 34 s 6 amd 1977 No. 48 s 2 ; 1981 No. 34 s 11 ; 1995 No. 57 s 4 sch 1 (sec.35B-ssec.1) In this section— disaster relief fund means any fund raised by or resulting from any appeal for support for the purpose of assisting persons suffering distress, whether physical, mental or financial, as a result of any catastrophe or disaster arising from natural causes, inevitable accident, wilful act or negligence. (sec.35B-ssec.2) In any case where the Governor in Council is satisfied that— a fund is a disaster relief fund; no payment has been made from moneys (whether invested or not) in or belonging to that fund for a period of 1 year or more; those moneys do not appear likely to be applied for the benefit or relief of any of the persons for whose benefit or relief that fund was established; a regulation may vest all or any of such moneys (whether invested or not) in the public trustee who shall— in the case of moneys not invested—pay such moneys to the credit of the disaster appeals trust fund (the trust fund ); in the case of invested moneys—realise the investments when directed to do so by the committee and pay the proceeds of such realisation to the trust fund, and in the meantime hold such investments on behalf of the trust fund. (sec.35B-ssec.4) Moneys vested in the public trustee under this section shall vest freed and discharged from all trusts to which they are or may be subject. (sec.35B-ssec.6) If a regulation is made under this section about a fund declared, under a regulation, to be a disaster relief fund and— there is an insubstantial variation between the name of the fund indicated in the regulation and the name in which the fund is held; and the public trustee is satisfied that the fund indicated in the regulation is the same fund as that so held; a certificate under the hand and seal of the public trustee that, in the circumstances as aforesaid, the funds so named are one and the same fund shall, until the contrary is proved, be sufficient evidence of the matters stated and be acted upon by any person required to make any payment or transfer with respect thereto. (sec.35B-ssec.7) In subsection (6) — the name in which the fund is held includes the name— of any account relating to the fund; and in which any fund moneys are invested; and in which any security is held in respect of moneys so invested. (sec.35B-ssec.8) The receipt of the public trustee shall be a full and sufficient discharge to any governing body or any persons paying or transferring any moneys or investments in pursuance of this section as to the moneys or investments made or transferred, and such governing body or persons shall not thereafter be liable or accountable therefor or be bound to see to the application, distribution or appropriation thereof. (sec.35B-ssec.9) The committee may from time to time direct the public trustee (who shall comply with such direction)— to invest any moneys standing to the credit of the trust fund in any authorised trustee investment nominated by the committee; to realise any investment so made; and income arising from any such investment shall be paid into and form part of the trust fund. (sec.35B-ssec.10) The committee may from time to time, with the approval of the Governor in Council, direct the public trustee to pay or apply the whole or any part of the moneys standing to the credit of the trust fund, including moneys derived from the realisation of investments— for the benefit or relief of any of the persons for whose benefit or relief a fund referred to in subsection (2) was established; or to or for the use or benefit of any other fund that in the opinion of the committee is a disaster relief fund; and in any such case the public trustee shall pay or apply the moneys the subject of the direction in accordance with the terms of such direction.