Vesting of real and personal property of grand lodge held for charitable purposes
3A Vesting of real and personal property of grand lodge held for charitable purposes
Upon the incorporation according to law of the Board of Benevolence and of Aged Masons, Widows and Orphans’ Fund—
all lands and any estate therein and all moneys and securities for moneys and all personal property vested in the trustees of the United Grand Lodge of Antient Free and Accepted Masons of Queensland at the time of such incorporation and held for a charitable or benevolent purpose administered by the board shall, by virtue of such incorporation, be divested from the trustees and vest in the board; and
all masonic lands, all moneys or securities for moneys and all personal property acquired by or for grand lodge by gift, purchase, devise, bequest or otherwise at any time or times after such incorporation for a charitable or benevolent purpose administered by the board shall vest in the board.
The vesting of property in the board under subsection (1) shall not prejudice any mortgage, charge, encumbrance, lien, lease, agreement or other transaction to which the property is subject immediately before such vesting.
A passing of property to the board under subsection (1)(a) is not a disposition of property in respect of which gift duty is payable.
Where property divested from the trustees and vested in the board under subsection (1) consists of a chose in action it shall be deemed that sufficient notice has been given to all persons of the passing of the property.
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