New South Wales Consolidated Acts New South Wales Consolidated ActsEvery person who, immediately before a trust fund becomes a Fund to which this Act applies, held a scholarship awarded pursuant to trusts created by a trust instrument relating to that trust fund shall, so long as the person observes the terms and conditions applying to the scholarship when it was awarded, be entitled to continue to hold and enjoy the scholarship and to receive any payments or other benefits in respect thereof, as if this Act had not been enacted.