3Members to be body corporate

3 Members to be body corporate

3 Members to be body corporate

(1) The members shall, by the name of “The Infants’ Home, Ashfield”, be a body corporate with perpetual succession and a common seal, and under that name may sue and be sued, proceed and be proceeded against in all courts.

(2)

(a) The land comprised in certificate of title dated the seventh day of January, one thousand nine hundred and twenty-two, registered volume three thousand two hundred and sixty-nine, folio two hundred and fourteen, is hereby vested in the body corporate, and it shall be entitled to become the registered proprietors thereof for an estate in fee-simple.

(b) The said land shall be held by the body corporate freed and discharged from any trusts affecting the same, but upon a charitable trust for the objects of the body corporate as specified in section five of this Act. If, however, it becomes impracticable to give effect to the said objects, the land or the investments for the time being representing the same shall be held upon trust for such charitable objects and subject to such powers of sale and disposition as His Majesty’s Attorney-General of and for the State of New South Wales may by deed appoint.

(c) If the said land is alienated by the body corporate, the trusts by this section provided for shall attach to whatever is received by the body corporate by way of consideration or in exchange upon the alienation.

(3) All other real and personal estate which at the date of the passing of this Act is vested in and held by any person in trust for or on behalf of the society or the Infants’ Home, Ashfield, is hereby transferred to and vested in the body corporate subject to any trusts affecting the same.

(4) The body corporate may:

(a) take, purchase, hold, and enjoy not only such lands, buildings, and hereditaments as may from time to time be required for the purposes of the Infants’ Home, Ashfield, but also any other lands and hereditaments whatsoever or wheresoever situate, and

(b) take, purchase, and receive, hold, and enjoy any chattels and personal property, and

(c) upon such terms and conditions as to it may seem fit sell, grant, convey, demise, or otherwise dispose of either absolutely or by way of mortgage or otherwise howsoever any of the property real or personal belonging to the body corporate, including the whole or any part of or interest in the land referred to in subsection two of this section, and