On the passing of this Act the land described in the schedule hereto shall be and the same is hereby set apart for the purposes of a racecourse and public recreation-ground, and shall, without any conveyance, be vested in a Board of Trustees consisting of the following persons: John Godsell, James Menzies, John Molloy, William Bell, Thomas Milne, and Samuel McCully, all of Hakateramea, in the County of Waimate. And the said racecourse and recreation-ground shall be administered by the said Board in accordance with the powers and provisions of The Public Reserves Act 1881 Amendment Act 1885.