Victorian Numbered Acts

PRAHRAN MECHANICS' INSTITUTE AMENDMENT ACT 2010 (NO. 31 OF 2010) - SECT 6

Before section 12 of the Principal Act insert —

    " 11B     Power to sell or dispose of land

    (1)     For the purposes of its objectives, the said incorporated body may sell or dispose of—

        (a)     land vested in the said incorporated body under section 4;

        (b)     the High Street property.

    (2)     The said incorporated body must apply all money resulting from any sale or disposal of land under subsection (1) for the purposes of its objectives.

    (3)     Subsection (1) has effect until—

        (a)     the said incorporated body sells or disposes of all land referred to in that subsection; or

        (b)     5 years after the subsection comes into operation—

whichever is the earlier.".