Athlii Gwaii Legacy Trust (Winding Up) Act

Athlii Gwaii Legacy Trust (Winding Up) Act 6 2024 March 14, 2024 524872423/892350426/247461813 E4tlc24006 Definitions 1 In this Act: society means the Gwaii Trust Society, a society under the Societies Act ; trust means the Athlii Gwaii Legacy Trust, formerly known as the Gwaii Forest Charitable Trust, governed by the trust deed; trust deed means the deed of trust, dated March 29, 2007, between a the society as settlor, b the society, Warren Foster and Brad Setso as trustees, and c KPMG Inc. as protector. Athlii Gwaii Legacy Trust — power of trustees to wind up 2 1 The trustees of the trust may wind up the trust by transferring the trust property to the society. 2 Subsection (1) applies despite the trust deed or any enactment or law. Duty of society to pay remaining debts and liabilities 3 If the trust property is transferred to the society under section 2 (1), the society must pay the remaining debts and liabilities, if any, that would have been recoverable from the trust property if the trust had not been wound up. Commencement 4 This Act comes into force on the date of Royal Assent.