5ACommissioner may determine fund to be dormant

5A Commissioner may determine fund to be dormant

5A Commissioner may determine fund to be dormant

(1) The Commissioner may determine a fund to be a dormant fund if satisfied that—

(a) for at least the immediately preceding 6 years, the trustees have not used the fund genuinely for the purposes for which it was donated, collected or otherwise acquired, or

(b) it is not practicable to use the fund for those purposes, or

(c) it is unlikely that those purposes will be achieved within a reasonable time, or

(d) the trusts, or the objects of the trusts or the purposes, for which the fund was donated, collected or otherwise acquired are uncertain or cannot be ascertained, or

(e) if the fund is held for an institution within the meaning of clause 20 of Schedule 7 to the Crown Land Management Act 2016—the institution is not functioning as such an institution.

A fund is not to be regarded as having been used as referred to in paragraph (a) merely because the fund is invested or merely because the proceeds of investment have been placed on deposit or have been added to the fund.

(2) The Commissioner may revoke a determination under this section if, after making the determination, the Commissioner decides that the determination was based on inadequate, misleading or incorrect information. However, such a determination is not revocable after the Commissioner has made an order under this Act in respect of the fund to which the determination relates.

(3) The revocation of a determination under this section does not prevent the Commissioner from making a further determination under this section with respect to the fund.

(4) Subject to any appeal under section 15B, a determination or decision of the Commissioner under this section cannot for any reason be challenged before, or be reviewed, quashed or called into question by, any court. No proceedings, whether for an order in the nature of prohibition, certiorari or mandamus or for a declaration or injunction or for any other relief, lie in respect of any determination or decision of the Commissioner under this section.

s 5A: Ins 1995 No 64, Sch 1 [10]. Am 2017 No 17, Sch 4.22 [2].