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CHARITABLE TRUSTS ACT 1962 - SECT 10A

10A .         Attorney General may approve certain schemes

        (1)         This section applies to a scheme which relates to property or income which is given or held upon trust, or is to be applied, for any charitable purpose, if —

            (a)         the value of the property (including any accumulated income) is less than $50 000, or such greater amount as is prescribed for the purposes of this paragraph; or

            (b)         the income in the previous financial year was less than $10 000, or such greater amount as is prescribed for the purposes of this paragraph.

        (2)         In relation to a scheme or schemes jointly prepared under section 9(2) or (3), this section applies only if subsection (1)(a) or (b) applies to each of the trusts affected by the scheme or schemes.

        (3)         Trustees who have prepared a scheme to which this section applies may, when submitting the scheme to the Attorney General under section 10(1), apply in writing to the Attorney General for approval of the scheme.

        (4)         If an application is made under subsection (3) the Attorney General shall —

            (a)         approve the scheme as finally submitted by the trustees after they have considered any amendments suggested by the Attorney General under section 10(1)(a); or

            (b)         refuse to approve the scheme.

        (5)         Before making a decision under subsection (4) the Attorney General —

            (a)         may require the trustees to give public notice of the scheme in such a manner as the Attorney General thinks fit; and

            (b)         is to have regard to any representations made to the Attorney General by any person considered by the Attorney General to have an interest in the matter.

        (6)         If the Attorney General approves a scheme the Attorney General shall —

            (a)         in writing notify the trustees of the approval; and

            (b)         cause notice of the approval to be published in the Gazette ; and

            (c)         not report on the scheme under section 10(1)(b).

        (7)         The approval of a scheme by the Attorney General takes effect at the time it is granted or at such later time as is specified in the approval.

        (8)         If the Attorney General refuses to approve a scheme —

            (a)         the Attorney General shall set out the reasons for that decision in the report prepared under section 10(1)(b); and

            (b)         the trustees may apply to the Court under section 10(2) for approval of the scheme.

        (9)         If a scheme is approved under this section the Attorney General may, on the application of the trustees, from time to time vary the scheme.

        (10)         The Attorney General may approve a scheme even if the procedural requirements of this Part have not been complied with in relation to the scheme.

        (11)         If an application is made under subsection (3) or (9) the Attorney General may charge the trustees reasonable fees for the costs and expenses (including legal costs and disbursements) incurred by the Attorney General in considering the scheme or variation.

        [Section 10A inserted by No. 7 of 1998 s. 9.]



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