Section 77 Upon deposit being made a receipt to be given, and the lands to vest upon a deed poll being executed.C1

Upon any F1such payment or deposit of money as last aforesaid being made F2 . . . F3it shall be lawful for the promoters of the undertaking, if they think fit, to execute a deed poll, under their common seal if they be a corporation, or if they be not a corporation under the hands and seals of the said promoters, or any two of them then, if the promoters of the undertaking think fit, it shall be lawful for the promoters to execute a deed poll under their common seal if they are a corporation, or, if they are not a corporation, for the promoters or any two of them to execute a deed poll, containing a description of the lands in respect whereof such payment or deposit shall have been made, and declaring the circumstances under which and the names of the parties to whose credit such payment or deposit shall have been made, and such deed poll shall be stamped with the stamp duty which would have been payable upon a conveyance to the promoters of the undertaking of the lands described therein; and thereupon all the estate and interest in such lands of the parties for whose use and in respect whereof such purchase money or compensation shall have been paid or deposited shall vest absolutely in the promoters of the undertaking, and as against such parties they shall be entitled to immediate possession of such lands.