(1)Where an application is made under section 2 above by the trustees of any trust that has arisen under section 1 above, the requirements of this section are satisfied with respect to the making of that application if, before the application is made—
(a)notices under subsection (2) below have been published in two national newspapers and in a local newspaper circulating in the locality where the relevant land is situated;
(b)each of those notices specified a period for the notification to the trustees of claims by beneficiaries, being a period ending not less than three months after the date of publication of the last of those notices to be published;
(c)that period has ended;
(d)for a period of not less than twenty-one days during the first month of that period, a copy of one of those notices was affixed to some object on the relevant land in such a position and manner as, so far as practicable, to make the notice easy for members of the public to see and read without going on to the land; and
(e)the trustees have considered what other steps could be taken to trace the persons who are or may be beneficiaries and to inform those persons of the application to be made under section 2 above and have taken such of the steps considered by them as it was reasonably practicable for them to take.
(2)A notice under this subsection shall—
(a)set out the circumstances that have resulted in a trust having arisen under section 1 above;
(b)state that an application is to be made for the establishment of a scheme with respect to the property subject to the trust; and
(c)contain a warning to every beneficiary that, if he wishes to oppose the extinguishment of his rights, he should notify his claim to the trustees in the manner, and within the period, specified in the notice.
(3)Where at the time when the trustees publish a notice for the purposes of subsection (2) above—
(a)the relevant land is not under their control; and
(b)it is not reasonably practicable for them to arrange for a copy of the notice to be affixed as required by paragraph (d) of subsection (1) above to some object on the land,
that paragraph shall be disregarded for the purposes of this section.
(4)The requirements of this section shall not apply in the case of an application made in respect of any trust if—
(a)the time when that trust is treated as having arisen was before the commencement of this Act; and
(b)more than twelve years have elapsed since that time.