4Estate of proprietor vested in Church of England Property Trust

4 Estate of proprietor vested in Church of England Property Trust

4 Estate of proprietor vested in Church of England Property Trust

(1) The estate and interest of every person entitled to the lands described in the Second Schedule to this Act or any portion thereof and whether to the legal or equitable estate therein shall, by virtue of this Act, be deemed to have been as fully and effectually conveyed to the Church of England Property Trust, Diocese of Sydney, as if the same had been conveyed by the persons legally or equitably entitled thereto by means of the most perfect assurances in the law.

(2) Every such estate or interest shall be taken to have been converted into a claim for compensation in pursuance of the provisions of this section.

(3) Subject to this Act, every person shall, upon asserting his claim and making out his title in respect of any portion of the said vested lands, be entitled to the like compensation on account of such vesting as he would have been entitled to had the lands been resumed under the provisions of Division 1 of Part 5 of the Public Works Act 1912, as amended by subsequent Acts, for the purpose of carrying out an authorised work, and the provisions of that Act as so amended shall, mutatis mutandis, apply as if the lands had been so resumed.

(4) No compensation shall be payable to the Municipal Council of Sydney or any other person for or in respect of the taking, closing or obstruction of the parcels of land described in the fifth and sixth parts of the Second Schedule to this Act (being the site of St. Andrew’s Place).

(5)

(a) The trustees in whom the land described in the Third Part of the Second Schedule to this Act was vested at the date of commencement of this Act or their successors in office shall be entitled to agree upon and receive all compensation money whatsoever payable in respect of the vesting of such land in the Church of England Property Trust Diocese of Sydney by this Act and to execute valid releases in respect thereof in favour of the Minister and the Crown.

(b) Such compensation money shall be held by the persons receiving the same on the same trusts and with and subject to the same powers and restrictions as affected the said land at the date of the commencement of this Act or as affect the compensation money.

(c) The powers conferred by paragraph (a) of this subsection shall be construed as cumulative and not as in substitution for any other powers of such trustees and their successors.