(1) There is hereby established for the purposes of this Act a board of trustees, to be called the Greytown District Trust Lands Trustees, which shall be a body corporate, with perpetual succession and a common seal, and shall, for the purposes and subject to the provisions of this Act, be capable of purchasing or otherwise acquiring, holding, disposing of, and alienating real and personal property, and of doing and suffering all such other acts and things as bodies corporate may by law do and suffer.
(2) The Trust Board constituted by this Act is hereby declared for all purposes to be the same body of persons as the Greytown Trustees constituted by the Greytown Trust Lands Act 1956 and subsisting immediately before the passing of this Act. All references to the Greytown Trustees or the Greytown Trust Lands Trustees in any Act, Proclamation, Order in Council, or other enactment, or in any contract, deed, instrument, agreement, will, register, title, licence, list, or other document, whether passed or made before or after the passing of this Act, shall unless inconsistent with the context thereof or with the provisions of this Act, be deemed to be references to the Greytown District Trust Lands Trustees.
(3) The Trust Board shall consist of 6 members, who shall be elected in the manner hereinafter provided, and who (subject to the provisions of this Act) shall respectively hold office until retirement by rotation in the manner hereinafter provided.
(4) Subject to sections 8 and 9, all persons holding office immediately before the passing of this Act as members of the Greytown Trustees under the Greytown Trust Lands Act 1956 shall, until retirement by rotation in the manner hereinafter provided, continue to hold office as members of the body corporate constituted by this Act, and shall be deemed to have been elected to such last-mentioned office on the days on which they respectively were elected as members of the Greytown Trustees constituted by the Greytown Trust Lands Act 1956.
(5) The powers of the Trust Board shall not be affected by any vacancy in its membership.
(6) The common seal of the Trust Board shall only be affixed to documents pursuant to a resolution of the Trust Board and in the presence of 2 of the Trustees and the Secretary.
Section 3(1): amended, on 26 August 1993, by section 4(1) of the Greytown District Trust Lands Amendment Act 1993 (1993 No 7 (L)).
Section 3(2): amended, on 26 August 1993, by section 4(2)(a) of the Greytown District Trust Lands Amendment Act 1993 (1993 No 7 (L)).
Section 3(2): amended, on 26 August 1993, by section 4(2)(b) of the Greytown District Trust Lands Amendment Act 1993 (1993 No 7 (L)).