(1) Where any property is held or is to be applied in trust for charitable purpose, the ¹[appropriate Government], if it thinks fit, may, on application made as hereinafter mentioned, and subject to the other provisions of this section, order, by ² notification in the Official Gazette, that the property be vested in the treasurer of Charitable Endowments on such terms as to the application of the property or the income thereof as may be agreed on between the ¹[appropriate Government] and the person or persons making the application, and the property shall thereupon so vest accordingly.
         (2) When any property has vested under this section in a treasurer of Charitable Endowments, he is entitled to all documents of title relating thereto.
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         (4) An order under this section vesting property in a treasurer of Charitable Endowments shall not require or be deemed to require him to administer the property, or impose or be deemed to impose upon him the duty of a trustee with respect to the administration thereof.