Marine Institute Act, 1991

Transfer of property.

20.—(1) On the establishment day all land which, immediately before that day, was vested in the Minister for Finance and was used in connection with marine research and all rights, powers and privileges relating to or concerned with such land shall, without any conveyance or assignment, stand vested in the Institute for all the estate or interest for which immediately before the establishment day it was vested in the Minister but subject to all trusts and equities affecting the land subsisting and capable of being performed.

(2) On the establishment day all property other than land, which immediately before that day was the property of the Minister for Finance and was used in connection with marine research shall stand vested in the Institute without any assignment.

(3) The Minister may on his own initiative and shall on the application of the Institute issue a certificate in respect of specified land certifying as he thinks proper, that the land vested in the Institute or did not so vest and the certificate shall be conclusive evidence of the facts so certified.

(4) Section 12 of the Finance Act, 1895, shall not apply to the vesting in the Institute of any property or rights transferred by this Act.