3Vesting real and personal estate in Body Corporate

#### 3 Vesting real and personal estate in Body Corporate 3 Vesting real and personal estate in Body Corporate > > (a) The land described in the Schedule hereunder written is hereby vested in the Body Corporate in fee simple subject to any Mortgages Liens and Encumbrances (if any) existing thereon at the date of the passing of this Act and subject thereto the said land shall be held by the Body Corporate freed and discharged from any and all trusts affecting the same but upon a charitable trust for the objects of the Body Corporate as specified in section five of this Act. If however it becomes impracticable to give effect to the said objects the said land or the investments for the time being representing the same shall be held upon trust for such charitable objects and subject to such powers of sale and disposition as the members of the Body Corporate shall determine by resolution in manner prescribed in section twenty-three of this Act. > > > (b) The Registrar-General is hereby directed and empowered to make every such entry cancellation and correction on the said Certificate of Title and in the Register as shall or may be necessary to register the Body Corporate as the Registered Proprietor of the said land and to issue in the name of the Body Corporate the said Certificate of Title or a new Certificate of Title to the said land free from all trusts caveats and other notifications. > > > (c) All other real and personal estate which at the date of the passing of this Act is vested in and held by any person in trust for and on behalf of the Society is hereby transferred to and vested in the Body Corporate subject to any trusts affecting the same.