20Vesting of property in the Trust on the appointed day

20 Vesting of property in the Trust on the appointed day

20 Vesting of property in the Trust on the appointed day

(1) Any property that was, immediately before the appointed day, vested in the company or any other person in trust for the Church is, on that day, divested from the company or that person and is, to the extent that it was so vested, vested (without conveyance) in the Trust.

(2) The vesting of the property in the Trust does not affect:

(a) any reservation, mortgage, charge, encumbrance, lien or lease that affected the property, or

(b) any trust on which the property was held,

immediately before the vesting of the property.

(3) No attornment to the Trust by a lessee of land vested in the Trust by this section is necessary.

(4) An instrument executed only for:

(a) the purpose of giving effect to this section, or

(b) a purpose ancillary to, or consequential on, the operation of this section,

is exempt from New South Wales stamp duty.