(1) Subject to the provisions of articles 257 and 258 of this Constitution, all properties and assets which immediately before the coming into force of this Constitution were vested in any authority or person for the purposes of, or in right of, the Government of Ghana or in the Government of Ghana, shall, on the coming into force of this Constitution, without further assurance than this section, vest in the President.

(2) Any property which was liable, immediately before the coming into force of this Constitution, to estreat or to be forfeited to the Government of Ghana shall be liable to estreat or to be forfeited to the Government of Ghana under this Constitution.

(3) Where immediately before the coming into force of this Constitution any person held any property or asset in trust-

(a) for the President of Ghana under the Constitution that was abrogated on 31st December, 1981; or

(b) for the Provisional National Defence Council or the Government of Ghana;

for the purposes of, or in right of, the Government of Ghana, that person shall, on the coming into force of this Constitution, hold the property or asset subject to the provisions of articles 257 and 258 of this Constitution, on the same trust for the Government of Ghana established under this Constitution.

(4) In this section, references to property and assets vested in or held in trust shall include property and assets vested in or held in trust immediately before the 31st day of December 198 1, for an interest which extended beyond the 30th day of December, 1981 and has not been surrendered.