4Vesting of property

4 Vesting of property

4 Vesting of property

(1) All property in New South Wales:

(a) which immediately before the commencement of this Act was vested in or held by any person in trust for or on behalf of or for the benefit of the Settlement shall by virtue of this Act be divested from such person and shall vest in the corporation as from such commencement, and

(b) which shall at any time after such commencement be given, devised or bequeathed to any person in trust for or on behalf of or for the benefit of the Settlement shall be deemed to be property given, devised or bequeathed, as the case may be, to the corporation.

(2) A certificate under the common seal of the corporation that the land described in the certificate is situated within New South Wales and is property vested in or held by any person in trust for or on behalf of or for the benefit of the Settlement shall:

(a) for the purpose of any application by the corporation to be registered as the proprietor, pursuant to a vesting by this Act, of any land under the provisions of the Real Property Act 1900, as amended by subsequent Acts, of which the body corporate is not the registered proprietor, be conclusive evidence, and

(b) in any action, suit or other proceeding, whether civil or criminal, be prima facie evidence,

of the facts so certified.

(3) All property vested in the corporation by the operation of:

(a) paragraph (a) of subsection one of this section shall be held by it subject to the conditions or trusts on which it was held immediately before such vesting, and

(b) paragraph (b) of subsection one of this section shall be held by it, where the gift, devise or bequest was made subject to any express conditions or trusts, subject to those conditions or trusts, and where the gift, devise or bequest was not so made, subject to a trust for the objects of the Settlement specified in its constitution:

Provided that where by or under the constitution power has been conferred on the executive committee to sell, grant, convey, demise or otherwise dispose of, either absolutely or by way of mortgage or otherwise, any of the property of the Settlement that power may be exercised by the corporation notwithstanding any condition or trust affecting the property in the hands of the corporation.