24Assets of patriotic fund

24 Assets of patriotic fund

(1) Without limiting the definition of assets in section 3(1), the assets of a patriotic fund include—

(a) any hall, clubroom or other building purchased by a trustee of the patriotic fund wholly or partly from money in the patriotic fund; or

(b) any lease of a hall, clubroom or other building, payments under which have been made from money in a patriotic fund.

(2) An asset referred to in subsection (1) is to be dealt with in the same way as money or property in or forming part of a patriotic fund.

(3) Subsection (1) applies to any hall, clubroom or other building purchased or leased by a trustee before the commencement of section 5 of the Patriotic Funds (Amendment) Act 1998.

Section 5 of the Patriotic Funds (Amendment) Act 1998 came into operation on 1 December 1998.