14 Vesting of property

(1)

All property held by the trustees of any such trust or by any such society shall immediately upon incorporation of the trustees or society as a board vest without transfer, conveyance, or assignment in the board for the same purposes, with the same powers, and upon and subject to the same trusts, contracts, and equities as then affect the same.

(2)

Where any estate or interest in, or any mortgage or charge on, any land under the Land Transfer Act 2017 is vested in a board by virtue of this section, the Registrar-General of Land shall, on receiving a written application under the common seal of the board, register the board as proprietor of that estate, interest, mortgage, or charge.

Compare: 1908 No 164 s 9

Section 14(2): amended, on 12 November 2018, by section 250 of the Land Transfer Act 2017 (2017 No 30).