4   A trust to be established in respect of each common

(1)  Whenever a parcel of land is set aside as a common after the commencement of this section, the Minister must, by notice published in the Gazette:

(a)  establish a trust in respect of the common, and

(b)  assign a corporate name to the trust.

(2)  A trust established under subsection (1) is constituted by this Act as a corporation with the corporate name assigned in the notice establishing the trust.

(3)  A body corporate constituted in respect of a common by section 4 of the former Act and in existence immediately before the commencement of this section continues in existence under this Act and is established as a trust in respect of the common for the purposes of this Act.

(4)  The Minister may, by notice published in the Gazette, alter the corporate name of a trust.

(5)  A trust established in respect of a common has the functions conferred or imposed on it by or under this or any other Act.

(6)  The affairs of a trust shall be managed:

(a)  by a trust board, or

(b)  by a local authority appointed under section 7, or

(c)  where an administrator is appointed under section 5 or 48—by the administrator.

(7)  Section 50 of the Interpretation Act 1987 applies to a trust, but subsection (1) (d) of that section is, in its application to a trust, subject to the provisions of Division 4.