WHEREAS Thomas George Macarthy, of the City of Wellington, brewer, by his last will and testament, bearing date the nineteenth day of May, nineteen hundred and six, devised and bequeathed unto the Public Trustee all his real and personal estate (excepting certain household furniture and certain properties in Boulcott Street), to hold the same (after payment of certain legacies in the said will mentioned, amounting in all to the sum of thirty-two thousand dollars, and subject to certain annuities in the said will mentioned, amounting in all to the yearly sum of three thousand four hundred dollars) upon, inter alia, the following trusts—(a) After payment of the testator's debts and funeral and testamentary expenses and all death duties payable upon the residue of his estate in exoneration of the same, upon trust to pay one moiety of the annual income and profits of the residue of the said estate to his widow during her life, and upon her death it was directed that the capital of the said moiety should form part of the residue and follow the destination thereof; (b) as to the other moiety of the annual income and profits of the residue, upon trust that the Public Trustee should until the death of the widow of the testator, or until the trust in favour of the widow should cease in her lifetime, pay and apply the same to and for such charitable and educational purposes and institutions in the Provincial District of Wellington in such manner, in such shares, and to such extent as the Board of Trustees hereinafter mentioned should from time to time by resolution direct and appoint; and (c) as to the whole of the residuary estate, subject to the life or other interest of the widow of the testator, the testator declared that the Public Trustee should stand possessed of the same in trust to pay and apply the same to and for such charitable purposes or educational purposes in the Provincial District of Wellington in such manner, and in such shares, or to such extent as the Board of Trustees should by resolution direct and appoint: And whereas the testator by the said will declared that the Board of Trustees should consist of the following four persons—namely, His Excellency the Governor of the Dominion for the time being, the Premier of the Dominion for the time being, the Roman Catholic Archbishop or Bishop for the time being of the Arch-Diocese or Diocese of Wellington, and the Mayor for the time being of the City of Wellington; and the testator by his said will further declared that in case any of the said persons should decline for any reason to act in the trusts aforesaid the other members of the said Board for the time being should appoint some other person or persons to act in the place of the person or persons so declining to act: And whereas by the said will the testator defined the powers of the said Board of Trustees: And whereas the said Thomas George Macarthy died on the nineteenth day of August, nineteen hundred and twelve: And whereas probate of the said will was on the twenty-second day of August, nineteen hundred and twelve, granted to the Public Trustee: And whereas His Excellency the Right Honourable John Poynder Dickson-Poynder, Baron Islington, Governor in and over His Majesty's Dominion of New Zealand; the Honourable William Ferguson Massey, Premier of the Dominion of New Zealand; Francis Redwood, Roman Catholic Archbishop of the Arch-Diocese of Wellington; and David McLaren, Mayor of the City of Wellington, have accepted office as members of the said Board, and have undertaken the duties and trusts which under the provisions of the said will devolve on the said Board: And whereas it is desirable that the said Board of Trustees should be constituted a body corporate with perpetual succession and a common seal, and that certain other powers should be granted for the administration of the said trust, which powers are not attainable otherwise than by legislation:
“thirty-four thousand dollars” and
“thre thousand four hundred dollars” were substituted, as from 10 July 1967, for the words
“sixteen thousand pounds” and the words
“seventeen hundred pounds” pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27).