WHEREAS the Tokomaru Sheep-farmers' Freezing Company (Limited), of Tokomaru Bay (hereinafter called the company), is about to commence business at Tokomaru Bay, in the County of Waiapu, and for that purpose is desirous of erecting freezing-works and accessories thereto at Tokomaru Bay aforesaid: And whereas the Native owners of the Tawhiti No 1A and of the Tawhiti No 1F Blocks respectively have agreed to sell to the company the said portion of the said Tawhiti No 1A and portion of the said Tawhiti No 1F Blocks respectively at the price of forty dollars per acre for fifty-five acres of the said land and of fifty dollars per acre for the balance of the land, such moneys to be paid by fully-paid up shares in the company bearing a preference dividend from the profits at the rate of six dollars per centum per annum as from the date of the sale of the said land to the company: And whereas the said Native owners and the company are desirous of having the said sale completed as rapidly as possible so as to enable the said works to be commenced: And whereas, owing to the large number of Native owners in the aforesaid blocks and to the various statutes dealing with alienation of lands by Natives, a transfer of the said lands from the said Native owners to the company could be obtained only with great delay and expense: And whereas it is desired, in order to save such delay and expense, to vest the lands in the Public Trustee in order that he may transfer the said lands to the company on behalf of the Native owners, in accordance with the agreement hereinbefore referred to:
The references to
“forty dollars” and
“six dollars” were substituted, as from 10 July 1967, for references to
“twenty pounds” and
“six pounds” pursuant to section 7(1) and (2) Decimal Currency Act 1964 (164 No 27).