8Real and personal property of the club to be vested in the chairman

8 Real and personal property of the club to be vested in the chairman

8 Real and personal property of the club to be vested in the chairman

All lands, tenements, and hereditaments, and all personal chattels and effects which are now held by the club, or by any person in trust for or for the benefit of the club or the members thereof, shall immediately upon the passing of this Act become and be vested in and be held by the chairman and his successors in such office in trust for the club, and in the like manner as if such chairman and his respective successors in such office were in law a corporation sole, and as if the personalty were real estate, and all lands, tenements, and hereditaments real and personal, and all personal chattels and effects which may hereafter be contracted for or be acquired by or belong to the club or the members thereof collectively may be conveyed, assigned, and assured to, and shall therefrom become vested in the chairman and his successors in such office in trust for the club, and in the like manner as if such chairman and his successors in such office were in law a Corporation sole, and as if the personalty were real estate, but nothing herein or in this Act contained shall be taken to incorporate the club or its members, or (except as hereinbefore in this Act provided as to members resigning after any change in the rules of the club) to relieve or exonerate the members or any of them from any responsibility, duty, contract, or obligation which they would be subject or liable to either as between the club and other persons or as between the individual members of the club if this Act had not been passed.