Queensland Temperance League Lands Act 1985An Act to free and discharge certain lands vested in Queensland Temperance League from the trusts upon which the lands are held, to provide for the application of the net proceeds of sale of the lands, the holding of real property by the league and for related purposes1Short titleThis Act may be cited as the Queensland Temperance League Lands Act 1985.2InterpretationIn this Act—lands means the lands described in the schedule 1 and schedule 2 and includes all improvements on the lands.league means the Queensland Temperance League and, if it changes its name, the body whatever it is subsequently called.s 2 def league sub 1993 No. 32s 3sch 1net proceeds of sale means the value of the consideration for the sale less all outgoings on account of liabilities reasonably incurred by the vendor in connection with negotiating and completing the sale other than outgoings directed to securing to the purchaser a title to the real property sold free of encumbrances and equities.real property means land or land and improvements held for an estate in fee simple.the Minister ...s 2 def the Minister sub 1990 No. 80s 3sch 6om 1993 No. 32s 3sch 13Vesting of lands free from trusts(1)It is declared that the lands vest in the league for an estate in fee simple saving always to the Crown all the rights and interests reserved to the Crown by the deeds of grant by which the lands were alienated by the Crown.(2)All trusts that at the passing of this Act affect the lands are extinguished.4Power of league to deal with lands(1)The league has and shall be deemed to have always had power to sell, by public auction or private treaty, lease, mortgage, and otherwise deal with the lands and any part thereof, notwithstanding the provisions of any other Act.(2)A person who at any time before the passing of this Act has entered into an agreement to purchase an estate or interest in the lands or any part thereof from the league shall be deemed to have agreed to purchase and, subject to the terms of the agreement, is entitled to a conveyance of the estate or interest freed and discharged from all trusts extinguished by section 3(2).6Application of proceeds of saleThe league may apply the net proceeds of sale of the lands and any income arising therefrom towards such of its purposes, as they exist from time to time, as it thinks fit in accordance with its constitution and rules.7League to own real property to minimum value(1)The league shall at all times own real property to a value of 50% at the least of the net proceeds of sale of the lands.(2)The league shall apply the real property owned by it to comply with subsection (1) or the net income arising therefrom or both (whichever the league considers to be in its best interests) towards such of its purposes, as they exist from time to time, as it thinks fit in accordance with its constitution and rules.8League may vary real propertyThe league shall not be taken to be in breach of its duty prescribed by section 7(1) by reason of a sale of real property that reduces the value of real property owned by it to less than the minimum value prescribed by that subsection if the sale is made with a view to the league’s acquisition of other real property sufficient to comply with that subsection and such other real property is acquired by the league as soon as is practicable and prudent.9Minister entitled to financial informationThe league shall furnish to the Minister a copy of its balance sheet and its income and expenditure account, certified correct by a person who is a registered company auditor under the Corporations Act, in respect of a period of 1 year terminating on 30 June, as required from time to time by the Minister and within a time specified by the Minister.s 9 amd 2001 No. 45s 29sch 3Schedule 1section 2All that land situated in the county of Stanley, parish of North Brisbane, City of Brisbane, being subdivision 2 of resubdivision A of subdivision A of allotment 5 of section 23 containing 1540.275m² more or less, contained in certificate of title volume 1799 folio 96.Schedule 2section 2All that land situated in the county of Stanley, parish of North Brisbane, City of Brisbane, being subdivision l of allotment 4 of section 23 containing 809m² more or less, contained in certificate of title volume 5053 folio 42.