Queensland Consolidated Acts Queensland Consolidated Acts(1) The corporation continued in existence by the repealed Local Government Act, section 28(15) under the name 'Trustees of the Local Authorities Debt Redemption Fund' (the Trustees) is continued in existence under the name 'Trustees of the Local Governments Debt Redemption Fund'.
(2) Its function is to administer sinking funds for the liquidation of amounts borrowed by local governments before the commencement day.
(3) The repealed Local Government Act, section 28(15) continues to apply to the Trustees with any necessary changes and any changes prescribed by regulation.