Section 3
Certain bonds, securities and moneys vested in the Corporation
of Penang Free School Act 1920 (Revised - 2023)
ActIn forceProvision 3 of 10
Section 3
(1)
All the bonds, securities and moneys specified and described in the Schedule are vested in the Corporation, together with all interest accrued or accruing due thereon, subject to the trusts and purposes more particularly mentioned in the Schedule.
(2)
The immovable property specified in clause 3 of the
Schedule is vested in the Corporation subject to such right or equity of redemption as at present subsisting therein.