Amendment status not verified — confirm the current text below against the official source.
Nothing contained in this Act shall apply in relation to any property held by a trust or an institution created or established wholly for public, religious or charitable purposes if-- (i) such property has been so held by such trust or institution from a date prior to the commencement of this Act; or (ii) such property is wholly traceable to any property held by such trust or institution prior to the commencement of this Act.