Repeal of Act IV of 1913 and revocation of trusts

On and with effect from the commencement of this Act, the Baronetcy Act shall stand repealed; and in consequence, thereof,—

1. (a) the trusts, powers, provisions, declarations and purposes in that Act declared and expressed shall, be and are hereby revoked and extinguished ;
2. (b) the Corporation shall be and is hereby dissolved and shall cease to function, and the Trustees shall cease to hold office as such Trustees ;
3. (c) the trust properties, in so far as they consist of immovable property shall by force and virtue of this Act vest in, and in so far as they consist of any moneys, investments, securities or other movable property shall stand transferred to, the Official Trustee, and be handed over to him (anything in Official Trustees Act, 1913 notwithstanding), and the Official Trustee shall hold and stand possessed of the same for the purposes, and with and subject to the powers and provisions, hereinafter expressed.