24Vesting of assets after winding up of body corporate

24 Vesting of assets after winding up of body corporate

24 Vesting of assets after winding up of body corporate

(1) To the extent to which any assets—

(a) are given to a body corporate that has been wound up under this Act, or to a person for the benefit of that body corporate, or

(b) are payable to, or recoverable by, the body corporate or any person on behalf of the body corporate,

by or under an instrument that takes effect on or after the date on which the body corporate is wound up, a reference in the instrument to the body corporate is to be treated as a reference to the Bishop of the relevant Diocese.

(2) In this section—

instrument means an instrument (other than this Act) that creates, modifies, or extinguishes rights or liabilities (or would do so if lodged, filed or registered in accordance with any law), and includes any will or any judgment, order or process of a court or tribunal.

ss 20–27: Ins 2001 No 11, Sch 1 [10] (am 2001 No 34, Sch 4.56 [1]–[4]).