Section 3. Reconstitution of Sansthan Trust and transfer to and vesting of properties in that Trust.

(1) On the appointed day, in place of the public trust registered under the 1Bombay Public Trusts Act, 1950 (Bom. XXIX of 1950), by the name of "Shirdi Sansthan of Shri Sai Baba" at Shirdi, District Ahmednagar (hereinafter referred to as "the erstwhile trust"), a trust by the name of "the Shree Sai Baba Sansthan Trust (Shirdi)", shall be deemed to be re-constituted under this Act. (2) On the appointed day, all the properties, whether movable or immovable (including all assets, rights, liabilities and obligations) of the erstwhile trust shall, by virtue of this Act, stand transferred to and vested in, the Sansthan Trust and the Executive Officer shall, on behalf of the Committee, be entitled to their possession and management from that day.