Sydney Bethel Union Extension Act 1908
1ACompany as trustee
Start here
Get a plain-English read of 1A
Turn the raw legal text into a practical explanation grounded in Sydney Bethel Union Extension Act 1908.
1A Company as trustee
1A Company as trustee
(1) Any property that, immediately before the appointed day, was vested in the trustees under this Act is, on that day, divested from the trustees and is, to the extent that it was so vested, vested (without conveyance) in Sydney Bethel Union Pty Ltd (ACN 617 974 688) (the new Trust).
(2) The vesting of the property in the new Trust does not affect:
(a) any reservation, mortgage, charge, encumbrance, lien or lease that affected the property immediately before the vesting, or
(b) any trust on which the property was held immediately before the vesting.
(3) The new Trust has the functions that are conferred or imposed on a trustee by this Act.
(4) In this section, appointed day means the day on which this section commences.
s 1A: Ins 2018 No 87, Sch 1.25.