6Transfer of property to corporation

6 Transfer of property to corporation

(1)  A person –

(a) who, at the commencement of this Act, holds;

(b) who, at any time after the commencement of this Act, requires; or

(c) to whom is or has been given, devised, or bequeathed (whether before or after the commencement of this Act) –

any real property or personal property in this State upon trust for or on behalf of, or for the benefit of, the Association or any branch thereof or any local association, group, or other body formed under the policy organization and rules of the Association in this State shall, if so required by the corporation, by notice in writing, transfer, convey, or assign that real property or personal property to the corporation, at the cost of the corporation, but subject to any conditions or trusts upon which it is or was held, acquired, given, devised, or bequeathed.

(2)  A notice under subsection (1) –

(a) shall be signed by the general secretary or other officer of the corporation authorized by the corporation in that behalf; and

(b) shall be deemed to have been received by the person to whom it is addressed at the expiration of the period of 3 days after it has been forwarded to that person by registered post at his usual or last-known place of residence in this State or, if it is addressed to more persons than one, after it has been so forwarded to any one of those persons at his usual or last-known place of residence in this State.

(3)  Notwithstanding the foregoing provisions of this section, any real property or personal property that is vested in, or held by or on behalf of, or that is given, devised, or bequeathed to, a sponsored group may, subject to any express trust affecting it, be held in trust for such purposes, and be disposed of in such manner, as the sponsoring authority of that group may determine; but if a sponsoring authority deals with any real property or personal property in a manner contrary to the conditions and trusts upon which it is held, the corporation may, by notice in writing in accordance with this section, require the organization by which the sponsoring authority is appointed, or that sponsoring authority, to transfer, convey, or assign that property to the corporation.

(4)  Any person, organization, or sponsoring authority to whom or to which a notice under this section is given may apply by summons to a judge for an order that the transfer, conveyance, or assignment, of the property to which the notice relates shall be subject to such terms and conditions as the judge may determine, and the judge may make such order with respect to the terms and conditions to which the transfer, conveyance, or assignment shall be subject as the judge may think just and equitable, having regard to all the circumstances of the case.