56Vesting of commodity in board

#### 56 Vesting of commodity in board 56 Vesting of commodity in board > > (1) Where a product has been declared a commodity and a board has been constituted in respect of the commodity, the Governor, by proclamation, may— > > > > > (a) declare— > > > > > > > (i) that the commodity shall forthwith, upon the date of publication of the proclamation in the Gazette or on and from a later date specified in the proclamation, or upon fulfilment of such conditions as are specified in the proclamation, be divested from the producers thereof and become absolutely vested in and be the property of the board, and > > > > > > > (ii) that upon any of the commodity coming into existence within a time specified in the proclamation or in any subsequent proclamation it shall become absolutely vested in and be the property of the board, and > > > > > (b) make such further provision as will enable the board effectively to obtain possession of the commodity as owner and to deal with the commodity as may be deemed necessary or convenient in order to give full effect to the objects and purposes for which the board is constituted. > > > (2) Upon the date of publication of the proclamation under subsection (1), or on and from the date specified in the proclamation, or upon fulfilment of the conditions specified in the proclamation, as the case may require, the commodity is absolutely vested in and is the property of the board. > > > (3) Subsections (1) and (2) do not apply to a commodity referred to in section 45 (3), but upon delivery of any such commodity in accordance with the relevant arrangement, the commodity is, unless the arrangement otherwise provides, absolutely vested in and is the property of the board. > > > (4) Any of the commodity vested in a board by the operation of subsection (2) or (3) and accepted by the board is so vested freed from all mortgages, charges, liens, pledges, interests and trusts affecting it, and the rights and interests of every person in the commodity are converted into a claim for payment for the commodity so accepted. > > > (5) A proclamation under this section may— > > > > > (a) apply generally or be limited in its application by reference to specified exceptions or factors, > > > > > (b) apply differently according to different factors of a specified kind, or > > > > > (c) authorise any matter or thing to be from time to time determined, applied or regulated by the relevant board or by any other specified person or body, > > > > or may do any combination of those things.