39Vesting of patriotic funds in the Victorian Veterans Council in certain cases

39 Vesting of patriotic funds in the Victorian Veterans Council in certain cases

(1) The Governor in Council may, by Order in Council published in the Government Gazette, vest in the Victorian Veterans Council any patriotic fund on being satisfied—

(a) that at least 60% of the trustees of the patriotic fund have consented to the patriotic fund being vested in the Victorian Veterans Council; or

(b) that there has been maladministration or a failure of administration of the patriotic fund; or

(c) that the trustees of the patriotic fund have contravened or failed to comply with the provisions of this Act or any direction, instruction or condition made, given or imposed by the Governor in Council or the Director under this Act.

(2) Any patriotic fund vested in the Victorian Veterans Council under subsection (1) is held on the trusts on which it was held by the trustees of the patriotic fund except that—

(a) the Governor in Council may, by Order in Council published in the Government Gazette, vary such trusts and authorise the Victorian Veterans Council to apply the patriotic fund or any part of the patriotic fund to any other purposes in connection with any service or duty as he or she directs; and

(b) in any case where the patriotic fund has been vested under subsection (1)(a), the Victorian Veterans Council must consider any recommendations of the trustees.

(3) Every Order in Council made under this section has the force of law and any payments, conveyances and transfers necessary to carry out the Order in Council are to be made.

(4) The receipt or acknowledgment of the Victorian Veterans Council is sufficient discharge to the persons paying or transferring any assets in a patriotic fund under this section.

(5) Upon receiving a receipt or acknowledgment under subsection (4), those persons paying or transferring any assets are not bound to see to the application, distribution, appropriation or use of those assets.