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On adoption of principal Act in municipal boroughs, property of corporation to vest in commissioners.
3 & 4 Vict. c. 108.
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25. When in any borough in which under the provisions of the Municipal Corporations (Ireland) Act, 1840, there are municipal commissioners acting in the execution of the said Act, the commissioners are elected under the provisions of the principal Act, then all the real and personal estate of such municipal commissioners, and any accumulation thereof, shall, forthwith without any conveyance thereof, vest in the commissioners elected under the provisions of the principal Act, and when such estate and accumulation have so vested in such commissioners the same shall be applied by such commissioners in aid of the rates to be levied by them under the principal Act, and the surplus thereof, if any, shall be applied by them for the public benefit of the inhabitants, and improvement of the borough.
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