Presbyterian Trusts Act 1890

s. 6

Immediately upon the incorporation of the corporate body of trustees, all property held by any person or persons for or on behalf of the church generally other than property which at the passing of this Act is held on behalf of or occupied or used by or for the purposes of any existing congregation of the church or of the minister thereof and all property held and all securities taken for money advanced by the General Assembly's trustees for and on behalf of the church, and all property situated in any place in which no congregation being or forming part of a settled charge recognised as such by the General Assembly exists at the time of such incorporation, shall without any further conveyance or transfer vest in the corporate body of trustees, and the Registrar-General or the Registrar of Titles (as the case may be) shall make the proper transfer thereof in his register. Provided that if any such property is subject to any mortgage charge or encumbrance it shall not vest in the corporate body of trustees until the mortgage charge or encumbrance has been discharged or the corporate body of trustees by memorandum in writing undertakes to answer any liability in respect of such mortgage charge or encumbrance. Provided also that the properties known as Ormond College the Scotch College and the Presbyterian Ladies' College shall not vest in the corporate body of trustees until the General Assembly by a special vote in that behalf shall so direct.