Urabbaparcensian organisational law
Urabbaparcensian organisational law is the system of regulating rights in the organisations formed within the Enactorate of Urabbaparcensia (formerly Urabba Parks Pty Ltd) and its wholly-owned subsidiaries. The shares of Urabba Parks Pty Ltd are allocated to organisations with status in the Urabbaparcensian legal system known as a granting entity.
Constitutional basis
The Urabbaparcensian legal system provides for internal entities to be established with 'succession' such as jurisdictional divisions, campus governments and associations. Succession is the internal legal equivalent of 'perpetual succession' in general law, and allows entities to hold property in Urabbaparcensia and be party to internal legal proceedings. The Constitution of Urabbaparcensia provides for the entry into the agreement of jurisdiction by Urabba Parks Pty Ltd in respect of "each entity having succession."[Constitution 1] An entity with succession may grant membership of Urabba Parks as a granting entity. Upon any potential winding-up of Urabba Parks Pty Ltd, the surplus assets of a granting entity are transferred to an eligible charity nominated by its members.[Constitution 2]
See also
- Agreement of jurisdiction (Urabbaparcensia)
- Charity distributions by Urabba Parks Pty Ltd
- Economy of Urabbaparcensia
