Reconstructed Companies Act 1893

s. 3

Immediately upon the passing of this Act all the property of each of the old companies mentioned in the Schedule to this Act incorporated by or under the provisions of some Act of the colony of Victoria vested in or belonging to such company at the date of the order of court sanctioning its reconstruction; and (subject to any order of a court of competent jurisdiction of the United Kingdom now or hereafter made affecting the same) all the property in Victoria of each of the old companies mentioned in the said Schedule incorporated under the provisions of some Act of the United Kingdom or by Royal Charter, vested in or belonging to such company at the date of the order of court sanctioning its reconstruction shall without any further or other conveyance assignment or transfer vest in pass to and become the property of the new company whose name appears in the fourth column of the said Schedule opposite the name of the old company absolutely for all the estate right title interest claim and demand which the old company had therein at the date of such order, subject nevertheless to the equities (if any) affecting the same respectively and to the terms and provisions of the compromise or arrangement or sale so sanctioned as aforesaid and to any conveyance transfer or other assurance or any dealing duly executed made or entered into since that date in pursuance of and in conformity with such compromise or arrangement or sale:

Provided always that any property of the old company which by its compromise or arrangement or sale (sanctioned as aforesaid) is expressly and specifically excepted or excluded from passing to the new company is excepted and excluded from the vesting operation of this section.

S. 4

amended by No. 18/1989 s. 13(Sch. 2 item 70).