Victorian Current Acts Victorian Current Acts(1) On the appointed day all property held, immediately before that day, by Commercial Nominees Pty. Limited as trustee shall be vested in National Nominees Limited to be held as trustee upon the same trusts subsisting immediately before that day.
(2) On and after the appointed day—
(a) Commercial Nominees Pty. Limited shall be wholly discharged as trustee of all the property vested by virtue of this section in National Nominees Limited;
(b) National Nominees Limited shall have the same powers, authorities and discretions in relation to each such trust as Commercial Nominees Pty. Limited has immediately before property was so vested; and
(c) a reference to Commercial Nominees Pty. Limited in any instrument made or executed before the appointed day and relating to property so vested shall unless the context otherwise requires be read and construed as a reference to National Nominees Limited.
(3) Any discharge or appointment of a trustee and vesting of property by virtue of this section shall have effect notwithstanding anything to the contrary in any instrument or in any Act or law.
(4) In this section a reference to Commercial Nominees Pty. Limited holding as trustee includes a reference to Commercial Nominees Pty. Limited acting as a trustee, and as a custodian trustee, a nominee and a person charged with the management or administration of property.
(5) Without prejudice to the generality of the preceding provisions of this section but notwithstanding anything to the contrary in any other Act or law, where any registered estate or interest in land under the operation of the Transfer of Land Act 1958 is by virtue of this section vested in National Nominees Limited, National Nominees Limited shall be deemed to be the registered proprietor of that estate or interest of which Commercial Nominees Pty. Limited is the registered proprietor and the estate or interest may be dealt with accordingly.
Transfer of certain assets, &c.