4Transfer of property, etc

All property, real and personal, of every description (including things in action) and all rights and privileges of the Institute which immediately before the appointed day belonged to or were vested in or exercisable by the Institute shall on the appointed day, without any conveyance, transfer, assignment or other instrument, be transferred to and vested in, or be exercisable by, the College for all the estate and interest therein of the Institute.