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4(1)This paragraph applies in the case of land held on charitable, ecclesiastical or public trusts (other than land to which the M1Universities and College Estates Act 1925 applies).E+W
(2)Where there is a conveyance of such land—
(a)if neither section 37(1) nor section 39(1) of the M2Charities Act 1993 applies to the conveyance, it shall state that the land is held on such trusts, and
(b)if neither section 37(2) nor section 39(2) of that Act has been complied with in relation to the conveyance and a purchaser has notice that the land is held on such trusts, he must see that any consents or orders necessary to authorise the transaction have been obtained.
(3)Where any trustees or the majority of any set of trustees have power to transfer or create any legal estate in the land, the estate shall be transferred or created by them in the names and on behalf of the persons in whom it is vested.
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