Transfer of assets
7 (1) All property, real and personal, and the undertaking and assets, with all the rights, powers, privileges and immunities vested in, owned, held, possessed or enjoyed by The Governors of the University of Toronto on the 1st day of July, 1968 and which relate to the Unincorporated Institutions, including but not limited to the real property described in the Schedule hereto, are hereby vested in the Museum without the necessity of any other grant, conveyance, transfer, assignment or vesting thereof subject to the provisions of this Act, and the Museum shall assume, satisfy and perform all debts and obligations relating to such property, undertaking and assets and shall indemnify The Governors of the University of Toronto from such debts and obligations.  R.S.O. 1990, c. R.35, s. 7 (1). Rights to other assets (2) Without limiting the generality of subsection (1), all gifts, devises, deeds, conveyances, transfers and leases of any real property or of any interest therein and all gifts, bequests, assignments, loans and transfers of any personal property or of any interest therein, which have been or shall hereafter be made or intended for The Governors or Governing Council of the University of Toronto for the purposes of any one or both of the Unincorporated Institutions are hereby vested in the Museum as fully and effectually as if any such gift, devise, deed, conveyance, transfer, lease, loan, bequest or assignment had been made to the Museum, but any property, real or personal, relating to any one or both of the Unincorporated Institutions and vested before the 1st day of July, 1968 in The Governors of the University of Toronto for any special purposes or trusts shall be held for such purposes and trusts, and with, under and subject to the same powers, obligations and provisions as are in force or declared under any statute, deed or other instrument affecting such property respectively and any property, real or personal, given, devised, bequeathed, assigned or transferred to or intended for the Museum or for any one or both of the Unincorporated Institutions after the 1st day of July, 1968, shall vest in the Museum and shall be held for the purposes and trusts and with, under and subject to the powers, obligations and provisions as are declared under any statute, deed or other instrument affecting such property respectively, and The Governors or Governing Council of the University of Toronto are relieved of any liability in respect of such property under any such statute, deed or other instrument.  R.S.O. 1990, c. R.35, s. 7 (2). Present lands vested in the Museum subject to certain rights (3) The lands used before the 1st day of July, 1968 for any one or both of the Unincorporated Institutions that are vested in the Museum by subsection (1), are subject to the right of The Governing Council of the University of Toronto at all times to maintain and operate the tunnels passing through such lands and the works connected therewith constructed for the purpose of the power plant and air conditioning plant of the University of Toronto and to keep them in repair, and the right at all times as occasion may require to enter upon such lands and the buildings thereon for the purpose of inspecting, maintaining and repairing such tunnels and works, and to do all things that may be necessary or convenient for that purpose.  R.S.O. 1990, c. R.35, s. 7 (3).