WHEREAS the Association known as the "The Old Colonists' Association of Victoria" is existing in Victoria as recited in the preamble to the Act passed in the forty-sixth year of the reign of Her late Majesty Queen Victoria intituled "An Act to establish and regulate a Permanent Fund in connection with the Old Colonists' Association of Victoria":
AND WHEREAS doubts have arisen as to the validity of rules made by the said Association and of acts matters and things done thereunder:
AND WHEREAS in the preamble to the said Act the objects of the said Association are recited to be:
(1) To assist necessitous Old Colonists by loan or otherwise:
(2) To promulgate facts relative to the early history of the colony:
(3) To promote the advancement of native-born Victorians:
(4) To encourage a friendly recognition of the members:
AND WHEREAS by the rules of the said Association the objects of the Association are stated to be:
(a) To provide homes for Old Colonists who have been resident in Victoria for 20 years, on the area known as "The Homes", Rushall-crescent, North Fitzroy, and on such other areas as the Council may deem suitable from time to time:
(b) To maintain the said homes and the grounds surrounding:
(c) To provide the Residents of "The Homes" with medical and emergency nursing attention:
(d) To assist Old Colonists by monetary grants or gifts in kind:
AND WHEREAS it is expedient to remove doubts as to the extent of the objects of the said Association:
AND WHEREAS it is also expedient to incorporate the said Association and vest in it the property of the said Association and the property held by the trustee of the said Association and to make other provision as hereinafter enacted:
BE IT THEREFORE ENACTED by the Queen's Most Excellent Majesty by and with the advice and consent of the Legislative Council and the Legislative Assembly of Victoria in this present Parliament assembled and by the authority of the same as follows (that is to say):
1. Short title construction and citation
This Act may be cited as the Old Colonists' Association Act 1955
and shall be read and construed as one with the Act passed in the forty-sixth year of the reign of Her late Majesty Queen Victoria intituled "An Act to establish and regulate a Permanent Fund in connection with the Old Colonists' Association of Victoria" (hereinafter called the Principal Act) and The Old Colonists' Association Act 1907
and the Old Colonists' Association Act 1947
which Acts and this Act may be cited together as the Old Colonists' Association Acts.
For the purposes of the Old Colonists' Association Acts unless inconsistent with the context or subject-matter "Association"
means The Old Colonists' Association of Victoria.
3. Validation of rules, objects of the Association
(1) The rules of the Association as from time to time purporting to have been in force are hereby validated and all acts matters and things done thereunder are hereby declared to have been validly done.
(2) It is hereby declared that the objects of the Association include the objects as recited in the preamble to this Act, that is to say both the objects recited in the preamble to the Principal Act and the objects set out in the rules of the Association as recited in the preamble to this Act, and for the purposes of such objects "Old Colonists" shall include any person of advanced years.
(3) In section two of the Principal Act for the words "objects of such Association as set forth in the preamble to this Act" there shall be substituted the words "objects of the Association".
(4) In sub-section (1) of section two of the Old Colonists' Association Act 1947 for the words "objects of the Association as set forth in the preamble to the Principal Act" there shall be substituted the words "objects of the Association".
4. Rules of the Association
(1) Subject to this section the Association may make rules for the management and administration of the Association and to assist the furtherance of the objects aforesaid of the Association, and any such rule may alter or repeal or add to any rule of the Association in force immediately before the commencement of this Act and hereby validated and any rule of the Association made thereafter.
(2) Every such rule shall be made by at least a two-thirds majority of members of the Association present at a duly convened meeting in person or by proxy and entitled to vote thereat.
5. Incorporation of Association, transfer of property and investment of funds
S. 5(1) amended by No. 9452 s. 2(1).
(1) The Association is hereby incorporated as a body corporate under the name of "The Old Colonists' Association of Victoria" and as such shall have perpetual succession and a common seal and be capable in law of suing and being sued and subject to and for the purposes of its objects aforesaid of purchasing taking holding selling taking or lease exchanging or disposing of land or any real or personal property and of mortgaging real property and of doing and suffering all such other acts and things as bodies corporate may by law do and suffer.
(2) All real and personal property held by the Association or by the trustees of the Association immediately before the commencement of this Act shall by virtue of this Act be vested in the Association subject to any trusts and conditions to which it was subject immediately before the commencement of this Act.
(3) The trustees of the Association shall go out of office.
(4) The Principal Act is hereby amended as follows—
(a) in section one—
(i) the words "shall vest in the trustees for the time being of the Association, and" shall be repealed
(ii) the words "by the trustees for the time being" shall be repealed;
(iii) for the words "as the trustees" (wherever occurring) there shall be substituted the words "as the Association";
(b) section three shall be repealed;
(c) in section four the words "trustees or other" (wherever occurring) shall be repealed.
(5) The permanent fund kept pursuant to section one of the Principal Act and any other moneys which by virtue of this Act vest in the Association and any other moneys which hereafter become vested in the Association may be invested in or retained in securities and investments which trustees are from time to time authorized by law to invest in or to retain as investments and the Association shall have power to vary and transpose any such investments from time to time, and members of the Council of the Association provided they have acted reasonably shall not be chargeable with breach of trust by reason only that in exercise of any such power to vary and transpose investments any fund of the Association may have sustained or have been subjected to a loss of capital. But nothing in this sub-section shall in any way limit or affect any power to invest or to postpone the realization or sale of any property or investments conferred by any instrument creating any trust.
S. 5(6) inserted by No. 9452 s. 2(2).
(6) Notwithstanding anything in the Old Colonists' Association Act 1907
or in any trust or Crown grant or other document
, for the purposes of its objects, the Association may borrow and re borrow moneys on the security of first mortgage of real property vested in the Association.
S. 5(7) inserted by No. 9452 s. 2(2).
(7) Moneys borrowed or re-borrowed under sub-section (6) do not form part of the permanent fund established by Act No. 730.
S. 5(8) inserted by No. 9452 s. 2(2).
(8) Notwithstanding anything in Act No. 730 or in the Old Colonists' Association Act 1947
, any sum that pursuant to the provisions of Act No. 730 or section 2(1) of the Old Colonists' Association Act 1947
may be applied in carrying out the objects of the Association and any other sum that is received by the Association and does not form part of the permanent fund established by Act No. 730 may be applied in repayment of the principal moneys owing or in the payment of any interest or other moneys owing in respect of any loan under sub-section (6).
The Old Colonists' Association Act 1955
was assented to on 29 November 1955 and came into operation on 29 November 1955.
Table of Amendments
This Version incorporates amendments made to the Old Colonists' Association Act 1955
by Acts and subordinate instruments.
Old Colonists' Association (Borrowing Powers) Act 1980, No. 9452/1980
9.12.80: s. 1(3)
All of Act in operation
No entries at date of publication.