6Transfer of property
(1)It shall be lawful for the Secretary for Scotland to allocate out of the general fund of the Board, of Manufactures such sums as may be prescribed—
(a)Towards the building and equipment of a school of art in Edinburgh ;
(b)For the purchase, erection, and equipment of buildings, and for the purchase of any land necessary in connection therewith, to be vested in the Commissioners of Works, and to be used, for the purposes of the Royal Society of Edinburgh until otherwise prescribed with the consent of the Treasury.
(2)Subject as herein-after provided all property belonging to or vested in or held in trust for or by the Board of Manufactures immediately before the establishment of the Board shall from and after such establishment pass to and vest in and be held in trust for or by the Board, subject to all debts and liabilities affecting the same, and shall be held, by the Board, and applied by them for such purposes connected with the promotion of the Fine Arts in Scotland as may be prescribed.