Thomas Cawthron Trust Act 1924

Thomas Cawthron Trust Act 1924

Private Act1924 No 6
Date of assent6 November 1924

An Act to incorporate the Trustees under the Will of Thomas Cawthron, deceased; to make Provision for Additional Trustees and the Succession of Trustees; and to confer certain Special Powers on the Trustees.

  • Preamble

    WHEREAS Thomas Cawthron, of the City of Nelson in New Zealand, retired shipping agent, by his last will and testament bearing date the fifteenth day of December, nineteen hundred and two, devised and bequeathed all his real and personal property (excepting certain household furniture and effects and certain properties in the said City of Nelson) unto the Bishop of Nelson, the Mayor of Nelson, the Chairman of the Waimea County Council, the members of the House of Representatives and Legislative Council for the City of Nelson and Waimea Electorate, the Chairman of the Nelson Harbour Board, and William Rout the younger, of the City of Nelson, in trust (after payment of certain legacies in the said will mentioned amounting in all to the sum of sixteen thousand two hundred dollars, and subject to certain annuities in the said will mentioned amounting in all to the yearly sum of one thousand two hundred and seventy-two dollars), for the purchase of land and erection and maintenance of an industrial and technical school institute and museum to be called The Cawthron Institute: And whereas the said Thomas Cawthron died on the eighth day of October, nineteen hundred and fifteen: And whereas probate of the said will was on the twelfth day of November, nineteen hundred and fifteen, granted to William Charles Sadlier, who was the Bishop of Nelson at the date of the death of the said deceased; Charles John Harley, who was the Mayor of Nelson at the date of the death of the said deceased; Horatio Everett, who was the Chairman of the Waimea County Council at the date of the death of the said deceased; Thomas Andrew Hemming Field, who was the member of the House of Representatives for the Nelson Electorate at the date of the death of the said deceased; and Henry Richard Duncan, who was the Chairman of the Nelson Harbour Board at the date of the death of the said deceased (the executors referred to or indicated in the said will under and by the titles to the respective public offices held by them); and to William Rout (formerly known and in the said will described as William Rout the younger), the executor personally named in the said will: And whereas the said Charles John Harley died on the sixteenth day of December, nineteen hundred and twenty-two: And whereas the said will made no special provision for succession in the event of a trustee dying: And whereas the surviving trustees for the time being, in exercise of the powers conferred by the Trustee Act 1956, did by deed dated the tenth day of May, nineteen hundred and twenty-three, appoint Frederick Giles Gibbs, of Nelson, retired school-teacher, to be a trustee in the place of the said Charles John Harley: And whereas it is desirable that the trustees should be constituted a body corporate with perpetual succession and a common seal, and that certain powers should be granted for the administration of the said trust: And whereas the objects of this Act are not attainable otherwise than by legislation:

    The reference to The Trustee Act 1956 was substituted, as from 1 January 1957, for a reference to The Trustee Act 1908 pursuant to section 89(1) Trustee Act 1956 (1956 No 61).

    The words sixteen thousand two hundred dollars, one thousand two hundred and seventy-two dollars were substituted, as from 10 July 1967, for the words eight thousand one hundred pounds and six hundred and thirty-six pounds pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27).

BE IT THEREFORE ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:—

1 Short Title and commencement
  • This Act may be cited as the Thomas Cawthron Trust Act 1924, and shall come into force on the first day of January, nineteen hundred and twenty-five.

2 Incorporation of Cawthron Institute Trust Board
  • There is hereby constituted a body corporate under the name of The Cawthron Institute Trust Board (hereinafter referred to as the Board) which shall have perpetual succession and a common seal, and shall be capable of holding real and personal property.

3 Constitution of Board
  • (1) The Board shall consist of—

    • (a) The persons holding for the time being the respective offices of—

      • (i) Mayor of Nelson City:

      • (ii) Mayor of Tasman District:

      • (iii) Member of Parliament for the Electoral District of Nelson:

      • (iv) Anglican Bishop of Nelson:

    • (b) Six members appointed by the member holding office under paragraph (a) of this subsection, 3 of whom shall be appointed for their scientific knowledge and experience.

    (2) Before making any appointment under subsection (1)(b) of this section, the members holding office under subsection (1)(a) of this section—

    • (a) Shall consult with, and have regard to the views of, the other members (if any) of the Board; and

    • (b) Shall satisfy then selves that any regulations made by the Board (under section 12(a) of this Act) in relation to the appointment of members (and not inconsistent with this section) have been complied with.

    (3) Except as otherwise provided in this section, each of the appointed members shall hold office for a period of 3 years from the date of that member's appointment, but may from time to time be reappointed.

    (4) Every appointed member, unless that member vacates office or otherwise than by effluxion of time, shall continue to hold office until that member's successor comes into office.

    (5) The office of any appointed member shall become vacant if the member—

    • (a) Dies; or

    • (b) Resigns office by written notice to the Board; or

    • (c) Is declared bankrupt; or

    • (d) Is convicted of any offence punishable by a term of imprisonment of 2 years or more; or

    Section 3 was substituted for sections 3 to 6, as from 20 October 1966, by section 2(1) Thomas Cawthron Trust Amendment Act 1966 (1966 No 91).

    Section 3 was substituted, as from 20 September 1993, by section 2(1) Thomas Cawthron Trust Amendment Act 1993 (1993 No 3(P)).

    Paragraph (b) was substituted, as from 2 August 1990, by section 14(1) Foundation for Research, Science, and Technology Act 1990 (1990 No 72).

    Paragraph (c) was substituted, as from 23 October 1981, by section 3(1) Thomas Cawthron Trust Amendment Act 1981 (1981 No 4(P)).

    Paragraph (c) was substituted, as from 14 December 1985, by section 2(1) Thomas Cawthron Trust Amendment Act 1985 (1985 No 7(P)).

    Paragraph (cc) was inserted, as from 26 October 1942, by section 34(1) Statutes Amendment Act 1942 (1942 No 18).

    Subsection (4) was substituted, as from 23 October 1981, by section 3(2) Thomas Cawthron Trust Amendment Act 1981 (1981 No 4(P)).

    Subsection (5) was amended, as from 2 August 1990, by section 14(1) Foundation for Research, Science, and Technology Act 1990 (1990 No 72)

4 Appointment of members to fill vacancies on Board
  • [Repealed]

    The proviso to section 4 was amended, as from 26 October 1942, by section 34(2) Statutes Amendment Act 1942 (1942 No 18), by substituting the word two for the word three.

    Section 3 was substituted for sections 3 to 6, as from 20 October 1966, by section 2(1) Thomas Cawthron Trust Amendment Act 1966 (1966 No 91).

5 Mode of appointment of Legislative Councillor as member of Board
  • [Repealed]

    Section 3 was substituted for sections 3 to 6, as from 20 October 1966, by section 2(1) Thomas Cawthron Trust Amendment Act 1966 (1966 No 91).

6 Membership of Board not to be increased because any member qualified to hold office in personal and also in official capacity
  • [Repealed]

    Section 3 was substituted for sections 3 to 6, as from 20 October 1966, by section 2(1) Thomas Cawthron Trust Amendment Act 1966 (1966 No 91).

7 Quorum
  • At any meeting of the Board five members thereof shall constitute a quorum, and the decision of a majority of the members present at any meeting of the Board shall be the decision of the Board. The chairman at any meeting of the Board shall have a deliberative vote, and in the case of an equality of votes shall have a casting-vote also.

8 Time and place of meetings
  • Meetings of the Board may be held at any time or place appointed by the Board or by any three members thereof.

9 Validity of acts of Board not to be impaired by vacancies or defective appointments
  • The Board may act notwithstanding any vacancy in its membership, and the validity of any act of the Board shall not be affected or called in question by reason of any defect or informality in the appointment of a member of the Board.

10 Contracts of Board
  • (1) Any contract which if made between private persons must be by deed shall, if made by the Board, be in writing under the seal of the Board.

    (2) Any contract which if made between private persons must be in writing signed by the parties to be charged therewith may, if made by the Board, be in writing signed on behalf of the Board by some person duly authorized in that behalf.

    (3) Any contract which if made between private persons may be made verbally without writing may be similarly made by or on behalf of the Board, but no verbal contract shall be made of a value exceeding forty dolllars.

    The words forty dollars were substituted, as from 10 July 1967, for the words twenty pounds pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27),

11 Board may accept and administer other bequests, &c
  • The Board may accept and receive any gift, bequest, or devise of money or property in trust for the purposes of the Cawthron Institute, and may execute and administer any trust of such money or property in accordance with the provisions of the instrument constituting such trust; and may exercise with reference to such trust all the powers and authorities given to or vested in the Board by this Act, so far as the same are or can be made applicable to the administration of such trust.

12 Additional powers of Board
  • (1) The Board shall have and may exercise all and singular the powers and authorities given to or exercisable by the trustees by or under the will of the said Thomas Cawthron, and in addition to and without derogating from such powers and authorities shall have power—

    • (a) To regulate its own procedure, and the procedure that is to apply in relation to the making of appointments under section 3(1)(b) of this Act:

    • (b) To promote any Act of Parliament having special application to the said trusts, and to pay the costs of the promotion and passing of any such Act (including the costs of promoting and passing this Act) out of the moneys coming to the Board under the trusts of the said will:

    • (c) For the purposes of any trust under its control, to hold land of any tenure, and to exercise with respect to the same all and singular the powers and authorities given to it under such trust or according to law:

    • (d) For the purposes of the trusts under the said will, to sell, lease, mortgage, or otherwise dispose of all property vested in the said Board.

    • (e) Subject to subsection (2) of this section, to invest any of the money held by it under the trust in any of the following modes of investment:

      • (i) Any mode of investment authorised by The Trustee Act 1956 or any other Act for the investment of trust funds:

      • (ii) The purchase of any land:

      • (iii) The erection, alteration, or improvement of buildings on land owned by the Board:

      • (iv) The improvement of any land owned by the Board:

    • (f) To manage all land, improvements, and buildings, owned by the Board:

    • (g) To sell, lease, mortgage, or exchange any land owned by the Board:

    • (h) To lease any building, or any part of any building situated on land owned by the Board:

    • (i) To maintain and keep in good order, repair, and condition, all buildings and other works and improvements situated on land owned by the Board.

    • (j) For the purposes of the trusts under the said will to carry on such activities and provide such services as the Board thinks necessary or desirable to enable the work of the Institute to be properly performed, and in particular, without limiting the generality of the foregoing,—

      • (i) To carry on any business undertaking:

      • (ii) To enter into any joint venture or partnership arrangement:

      • (iii) To subscribe for or otherwise acquire shares in any company or other organisation or body:

      • (iv) To invest any of the Board's money in any activity or service carried on or provided by the Institute or in any such business undertaking, joint venture, partnership arrangement, company, or other organisation or body:

      • (v) To borrow money:

      • (vi) To lend money:

      • (vii) To give guarantees.

    (2) The Board hall not invest any money in any mode specified in subparagraph (ii) or subparagraph (iii) or subparagraph (iv) of subsection (1)(e) of this section until it has obtained and considered the written advice of a person—

    • (a) Whom the Board believes on reasonable grounds to be qualified to advise on that mode; and

    • (b) Who is not a member, officer, or employee of the Board.

    (3) Where the Board sells, leases, mortgages, or exchanges, any land held by it subject to any trust, or leases any building, or any part of any building, situated on any such land, it shall hold the proceeds or, as the case may be, the land acquired in exchange, upon the same trust.

    Paragraphs (e)-(i) were inserted, as from 23 November 1979, by section 2(1) Thomas Cawthron Trust Act 1979 (1979 No 3(P)).

    Parargraph (j) was inserted, as from 23 October 1981, by section 2 Thomas Cawthron Trust Amendment Act 1981 (1981 No 4(P)).

    Subsections (2) and (3) were inserted, as from 23 November 1979, by section 2(1) Thomas Cawthron Trust Act 1979 (1979 No 3(P)).

    Paragraph 3(a) was amended, as from 20 September 1993, by section 3 Thomas Cawthron Trust Amendment Act 1993 (1993 No 3(P)), by inserting the words , and the procedure that is to apply in relation to the making of appointments under section 3(1)(b) of this Act.

13 Provision for a Capital Conservation Account
  • (1) Notwithstanding the express or implied provisions and trusts in the will of the testator, but subject to the provisions of this section, the Board shall in each year set aside four per centum of the gross income of the estate to be credited to a Capital Conservation Account.

    (2) The moneys credited to such account shall be separately invested by the Board, and the interest thereon shall be accumulated in such account until the amount of such account is forty thousand dollars, after which no further moneys shall be credited to the said Capital Conservation Account.

    (3) The interest-bearing capital of the said estate (other than the said Capital Conservation Account) shall not (except by unavoidable losses of capital) be permitted to fall below the sum of four hundred thousand dollars. In the event of such capital falling below the sum of four hundred thousand dollars the deficiency shall be made good from the said Capital Conservation Account, and any deficiency in such last-mentioned account below the sum of forty thousand dollars shall be made good by an annual appropriation of income as mentioned in subsection one hereof.

    The words forty thousand dollars and four hundred thousand dollars were substituted, as from 10 July 1967, for the words twenty thousand pounds and two hundred thousand pounds pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27).

14 Annual balance-sheet and accounts
  • (1) The Board shall, within three months after the close of each year ending on the 31st day of March, cause a balance-sheet to be prepared, together with a statement of accounts (including a receipts and payments account) showing fully the financial position of the said estate.

    (2) Such balance-sheet and statement of accounts shall be audited and certified by an auditor appointed for the purpose by the Board.

    (3) The Board shall publish the balance-sheet and statement of accounts, as certified, in the Gazette and in a newspaper circulating in the Provincial District of Nelson.

    Subsection (1) was amended, as from 23 November 1979, by section 3 Thomas Cawthron Trust Act 1979 (1979 No 3(P)), by substituting the words 31st day of March for the words thirty-first day of December.

15 Property of trustees vested in Board
  • (1) All real and personal property which immediately prior to the commencement of this Act is vested in the trustees of the said will of Thomas Cawthron, deceased, or in any one or more of them subject to the trusts of the said will, shall by force of this Act, and without conveyance, transfer, or assignment, be vested in the Board for the estate and interest of the said trustees therein, subject to all liabilities, charge, obligations, and trusts affecting the same.

    (2) On the commencement of this Act all the contracts, debts, and liabilities of the said trustees as such, or of any of them, shall become the contracts, debts, and liabilities of the Board.

16 Registration of title
  • (1) A memorandum referring to this Act may be registered in any Deeds Registry Office against any instrument of title registered under The Deeds Registration Act 1908, and affecting any land which by virtue of this Act is vested in the Board, and such registration shall have the same effect as if this Act were actually registered in full.

    (2) The District Land Registrar shall, on written application under the seal of the Board, register the Board as proprietor of all lands registered under The Land Transfer Act 1952, and vested in the Board by virtue of this Act.

    The reference to Land Transfer Act 1952 was substituted, as from 1 January 1953, for a reference to The Land Transfer Act 1915 pursuant to section 245 Land Transfer Act 1952 (1952 No 52).

17 Remuneration of Board
  • The members of the Board shall from time to time be entitled to receive by way of remuneration for their services such amount, not exceeding in the aggregate in any year the sum of $6,000, as may be agreed upon between the Attorney-General and the Board, and in the event of disagreement the amount of such remuneration shall be determined in the same manner as the remuneration of trustees is determined under The Trustee Act 1956. All moneys payable under this section shall be paid out of income coming to the Board under the trusts of the said will.

    The words one thousand dollars were substituted, as from 10 July 1967, for the words 500 pounds pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27).

    Section 17 was amended, as from 9 December 1976, by section 2 Thomas Cawthron Trust Amendment Act 1976 (1976 No 121), by substituting the reference to $6,000 for a reference to one thousand dollars.

    Section 17 was amended, as from 9 December 1976, by section 2 Thomas Cawthron Trust Amendment Act 1976 (1976 No 121), by substituting the reference to Trustee Act 1956 for a reference to Administration Act 1908.

18 Application of Charitable Trusts Act 1957
  • Notwithstanding that the powers of the Board, the trusts established by the will of the said Thomas Cawthron, or the mode of administration of those trusts, may have been varied by this Act, it is hereby declared that Part 3 of The Charitable Trusts Act 1957 shall apply to the Board and to those trusts as if—

    • (a) The purposes for which the property held by the Board is so held were charitable purposes within the meaning of that Act; and

    • (b) The Board were trustees within the meaning of Part 3 of that Act; and

    • (c) Those variations had been effected under Part 3 of that Act.

    Section 18 was inserted, as from 23 November 1979, by section 4 Thomas Cawthron Trust Act 1979 (1979 No 3(P)).