13APower of Minister to dissolve Trust

13A Power of Minister to dissolve Trust

[Section 13A Inserted by No. 27 of 2014, s. 7, Applied:17 Dec 2014]

(1)  If the Minister is satisfied that the Trust has failed to meet its obligations under section 8 , 11 or 12 or clause 1 , 2 , 3 or 4 of Schedule 2 , the Minister may serve notice on the Trust, advising it of the Minister's intention to dissolve the Trust.

(2)  The notice is to state that, unless the Trust meets the obligations specified in the notice within a specified period, being not less than 3 months, the Minister will dissolve the Trust.

(3)  The Minister may extend the period specified in the notice.

(4)  If the Minister, after exploring all other reasonable options to rectify the Trust's failure to meet the obligations specified in the notice, including by the replacement of the trustees, is satisfied that the Trust has failed to meet those obligations within the period specified, or extended under subsection (3) , the Minister may dissolve the Trust.

(5)  If the Minister dissolves the Trust, the Minister –

(a) has all the powers and functions of the Trust; and

(b) must ensure that any remaining Trust funds are used for the purposes of this Act; and

(c) is to lay a copy of the reasons for the dissolution of the Trust before each House of Parliament within 21 sitting-days of that House after the dissolution.

(6)  A notice under this section is not a statutory rule for the purposes of the Rules Publication Act 1953 .