Nothing contained in
this Act shall apply in relation to any property held by a trust or an institution created or established
wholly for public, religious or charitable purposes if--
(i) such property has been so held by such trust or institution from a date prior to the commencement of this Act; or
(ii) such property is wholly traceable to any property held by such trust or institution prior to the commencement of this Act.
(i) such property has been so held by such trust or institution from a date prior to the commencement of this Act; or
(ii) such property is wholly traceable to any property held by such trust or institution prior to the commencement of this Act.