s 39 Power for corporations to hold property as joint tenants
39.—(1) Subject to the provisions of the Residential Property Act 1976, a body corporate shall be capable of acquiring and holding any real or personal property in joint tenancy in the same manner as if it were an individual; and where a body corporate and an individual, or 2 or more bodies corporate, become entitled to any such property under circumstances or by virtue of any instrument which would, if the body corporate had been an individual, have created a joint tenancy, they shall be entitled to the property as joint tenants:Provided that the acquisition and holding of property by a body corporate in joint tenancy shall be subject to the like conditions and restrictions as attach to the acquisition and holding of property by a body corporate in severalty. (2) Where a body corporate is joint tenant of any property, then on its dissolution the property shall devolve on the other joint tenant.