210Effect of registration of CIOE+W
(1)Upon the registration of the CIO in the register of charities, it becomes by virtue of the registration a body corporate—
(a)whose constitution is that proposed in the application,
(b)whose name is that specified in the constitution, and
(c)whose first member is, or first members are, the applicants referred to in section 207.
(2)All property for the time being vested in the applicants (or, if more than one, any of them) on trust for the charitable purposes of the CIO (when incorporated) by virtue of this subsection becomes vested in the CIO upon its registration.