Site config says:

using boost
  : 1.59
  ;

Command line says:

c:\Work\github\TimSimpson\BoostBuildExamples\boost-test>b2 address-model=32 toolset=msvc-12.0
Performing configuration checks

    - 32-bit                   : yes (cached)
    - arm                      : no  (cached)
    - mips1                    : no  (cached)
    - power                    : no  (cached)
    - sparc                    : no  (cached)
    - x86                      : yes (cached)
    - symlinks supported       : no
    - junctions supported      : yes
    - hardlinks supported      : yes
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/tools\builtin.jam:769: in class@linking-generator.run
*** argument error
* rule type.is-derived ( type base )
* called with: ( SHARED_LIB )
* missing argument base
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\type.jam:219:see definition of rule 'type.is-derived' being c
alled
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\generators.jam:994: in try-one-generator-really
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\generators.jam:1056: in try-one-generator
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\generators.jam:1294: in construct-really
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\generators.jam:1378: in construct
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\generators.jam:1069: in generators.construct-types
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\generators.jam:609: in convert-to-consumable-types
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\generators.jam:405: in run-really
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\generators.jam:386: in class@generator.run
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\generators.jam:994: in try-one-generator-really
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\generators.jam:1056: in try-one-generator
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\generators.jam:1294: in construct-really
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\generators.jam:1378: in generators.construct
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\targets.jam:1553: in construct
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\targets.jam:1353: in class@basic-target.generate
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\targets.jam:774: in generate-really
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\targets.jam:746: in class@main-target.generate
C:/Tools/Local/boost/boost_1_59_0/tools/build/src/build\targets.jam:272: in class@project-target.generate
C:/Tools/Local/boost/boost_1_59_0/tools/build/src\build-system.jam:707: in load
C:\Tools\Local\boost\boost_1_59_0\tools\build\src/kernel\modules.jam:295: in import
C:\Tools\Local\boost\boost_1_59_0\tools\build\src/kernel/bootstrap.jam:139: in boost-build
C:\Tools\Local\boost\boost_1_59_0\boost-build.jam:17: in module scope