5Transfer of property to congregation

5 Transfer of property to congregation

(1)  There shall, by virtue of this Act, be transferred to and vest in the congregation all estates and interests in or attaching to any property which were held immediately before the commencement of this Act by any person for, or for any of the purposes of, the congregation, and all rights and liabilities to which any such person was entitled or subject immediately before such commencement acquired or incurred in connection with such property.

(2)  Subsection (1) shall not apply to the trust funds.