(1)Where property, other than property transferred to the Secretary of State under Part V of this Act or to a Health Board under this Part of this Act, is held on trust immediately before the appointed day, and the terms of the trust instrument authorise or require the trustees, whether immediately or in the future, to apply any part of the capital or income of the trust property for the purposes of any hospital or service which is to be administered by a Health Board, the trust instrument shall be construed as authorising or, as the case may be, requiring the trustees to pay that capital or income to the Health Board concerned.
(2)Where property so held in trust is, under the trust instrument, to be applied for the purposes of hospitals which are transferred to more than one Health Board, the trustees shall distribute the property between the Boards concerned, in such manner, having regard to the purposes of the trust, as the trustees may determine.
(3)Any sums paid to a Health Board under this section shall, so far as practicable, be applied by them for the purposes specified in the trust deed.