(1) All shares in The Salvation Army Auxiliary Company of Australia Proprietary Limited now standing in the name of the said William Bramwell Booth shall vest in the said Edward John Higgins as General or in such person or persons as he shall direct and upon presentation to the secretary for the time being of such company of an application or applications in that behalf from the said Edward John Higgins the said Edward John Higgins or the person or persons named in such application or applications shall be registered in the books of the company in place of the said William Bramwell Booth as the holder of the shares mentioned in such application or applications.
(2) All shares in the said company now standing in the names of any persons other than the said William Bramwell Booth and held by such persons upon trust for the said William Bramwell Booth shall be held by such persons free from such trust.