34Transfer of land described in Schedule 3 to Trust

34 Transfer of land described in Schedule 3 to Trust

34 Transfer of land described in Schedule 3 to Trust

(1) On the transfer date relating to land described in Schedule 3, the land vests in the Trust for an estate in fee simple—

(a) without the need for any further conveyance, transfer, assignment or assurance, and

(b) subject to any trusts, estates, interests, dedications, conditions, restrictions and covenants to which the land was subject immediately before the transfer date.

(2) On the transfer date relating to land described in Schedule 3, the following provisions have effect—

(a) the rights or liabilities of the transferor in relation to the land become by virtue of this section the rights or liabilities of the Trust,

(b) all proceedings relating to the land commenced before the transfer date by or against the transferor or a predecessor of the transferor and pending immediately before the transfer date are taken to be proceedings pending by or against the Trust,

(c) any act, matter or thing done or omitted to be done in relation to the land before the transfer date by, to or in respect of the transferor is (to the extent to which that act, matter or thing has any force or effect) taken to have been done or omitted by, to or in respect of the Trust,

(d) a reference in any Act, in any instrument made under any Act or in any document of any kind to the transferor or a predecessor of the transferor is (to the extent that it relates to that land or those rights or liabilities but subject to the regulations), to be read as, or as including, a reference to the Trust.

(3) Regulations may be made for or with respect to the conversion of references to the transferor in any document or class of document to references to the Trust as a consequence of any transfer of land under this Division.