(1)All objects given, bequeathed, or otherwise acquired for the purposes of the Museum at any time before the date on which the Board is first constituted, and not disposed of before that date, shall by virtue of this Act vest in the Board, and all objects which are at any subsequent time expressly given or bequeathed to the public, or to the nation, or to the Board for the purposes of the Museum, or given or, bequeathed by words showing an intention that the gifts should enure to or for the benefit of the Museum, or which are acquired by purchase or otherwise for the purposes of the Museum, shall vest in the Board and be held by the Board for the purposes of the Museum.
(2)Where it appears to the Trustees of the British Museum, the Trustees of the National Gallery, or the Board of Education, that any pictures or objects vested in them respectively would more properly form part of the Museum, the Trustees of the British Museum, the Trustees of the National Gallery, or the Board of Education, as the case may be, may, with the consent of the Treasury, transfer those pictures or objects to the Museum, and any pictures or objects so transferred shall vest in the Board and be held by the Board for the purposes of the Museum. The Trustees of the British Museum, the Trustees of the National Gallery, or the Board of Education may at any time, and on such terms, and subject to such conditions as they think fit, lend to the Museum any pictures or other objects vested in them respectively.