Victoria and Albert Museum
4Initial vesting in Board
(1)
Subject to the provisions of this Act, where the property in an object was vested in a Minister of the Crown immediately before the vesting day, and the object
(a)
then formed part of the collections of the institution known as the Victoria and Albert Museum, or
(b)
was then in use in respect of the collections or solely for the purposes of the administration of the institution,
then the property shall on that day become vested instead in the Board.
(2)
In the case of an object mentioned in subsection (1)(a), it is immaterial that, immediately before the vesting day, it was situated elsewhere than at premises managed for the purposes of the institution (as where it was on loan).
(3)
Any interest which was vested in a Minister of the Crown immediately before the vesting day, and which then subsisted in a fund or share in a fund (whether or not of money) then held for the purposes of the institution, shall on that day become vested instead in the Board.
(4)
On the vesting day any right, power, duty or liability which was immediately before that day exercisable by or incumbent on a Minister of the Crown—
(a)
in relation to any object mentioned in subsection (1), or
(b)
by virtue of his having any interest mentioned in subsection (3),
shall instead become exercisable by or incumbent on the Board.
(5)
Subsections (1) and (4)(a) do not apply as regards an object excepted from those provisions by an order made by the Secretary of State and coming into force before the vesting day.
(6)
Nothing in subsection (1) or (4)(a) affects chattels vested in the Secretary of State for Education and Science by virtue of the M1Wellington Museum Act 1947; but he and the Board may make agreements for the Board to perform, on his behalf, functions exercisable by him in relation to the chattels mentioned in section 2(1) of that Act.
(7)
The power to make an order under subsection (5) shall be exercisable by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.
(8)
In this section " the vesting day " means the day appointed under section 41(1) for the coming into force of this section (other than subsections (5) and (7)).