4.—(1) This paragraph applies where any proposals that a community school should become a voluntary aided or a voluntary controlled school have been approved.
(2) In such a case, any land other than playing fields which, immediately before the implementation date, was held or used by a local authority for the purposes of the community school must on that date transfer to, and by virtue of this paragraph vest in, the trustees of the school, to be held by them on trust for the purposes of the school.