Management of property vested in corporate body of trustees
14 Management of property vested in corporate body of trustees
All property becoming vested in the corporate body of trustees as hereinbefore mentioned or which shall in any manner be acquired by such corporate body shall, so far as the same is subjected to any express trust, be held managed and dealt with by such corporate body in conformity with such expressed trust and shall so far as the same is not subject to any express trust be held managed and dealt with in such manner as the General Assembly may from time to time direct, and such property shall be subject as to the management thereof to the rules or regulations of the General Assembly in force for the time being which are applicable thereto. All property which at the passing of this Act is managed and administered under the Act 8 William IV cap. 7 shall for the purposes of this section be deemed to be held upon an express trust.
S. 14A
inserted by No. 7310 s. 3.
This Act’s bill:Second reading speech
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