12Vesting of property in the Trust

12 Vesting of property in the Trust

12 Vesting of property in the Trust

(1) Subject to this Act, any property that, immediately before the appointed day, was vested in any person upon trust for the Church or a Congregation, Parish, Society, Association, Auxiliary or Institution of the Church, is hereby divested from that person and is, to the extent that it was so vested, hereby vested in the Trust.

(2) The vesting effected by subsection (1) shall be without prejudice to:

(a) any special trust,

(b) any resulting trust,

(c) any trust in favour of a donor,

(d) any trust in favour of a person other than the Church, and

(e) any reservation, mortgage, charge, encumbrance, lien or lease,

that, immediately before the appointed day, affected the property vested.

(3) No attornment to the Trust by any lessee of land vested in it by this section shall be necessary.

(4) Any instrument, within the meaning of the Stamp Duties Act 1920, executed only for:

(a) a purpose ancillary to, or consequential on, the operation of subsection (1) or (2), or

(b) the purpose of giving effect to either or both of those subsections,

is not chargeable with stamp duty.