5 Transfer of properties

Where any property is vested in or held by any person in trust for or for the benefit (directly or indirectly) of any body or corporation, or for the maintenance and support of the officers or members of any body or corporation, whether or not the trust or purpose appears upon the face of the conveyance or other instrument under which the property is held and whether or not the trust is for any charitable purpose, it shall be lawful for the person to convey or transfer the property so held to such trustees as the body or corporation directs or appoints or (in the case of a corporation) to the corporation.

Compare: 1908 No 164 s 10