Section 12: Transfer of property to the University.

(1) All property held by or on behalf of the University shall, by virtue of this subsection and without further assurance, vest in the University and be held by it for the purposes of the University.
(2) Subject to the provisions of subsection (1), all property held on behalf of the University is transferred to the University established under this Act.
(3) The provisions of the Second Schedule to this Act shall have effect with respect to matters arising from the transfer of property by this section and with respect to the other matters mentioned in that Schedule. [Second Schedule]