All property belonging to a trade union shall be vested in trustees in trust for it.
A judgment, order or award made in proceedings of any description brought against a trade union is enforceable, by way of execution, diligence, punishment for contempt or otherwise, against any property held in trust for it to the same extent and in the same manner as if it were a body corporate.
Subsection (2) has effect subject to section 23 (restriction on enforcement of awards against certain property).