Whereas there was established in Dannevirke in 1917 from public subscriptions a trust known as the Dannevirke and District Soldiers' Institute the property whereof comprises the land described in the Schedule hereto together with the buildings thereon and the chattels therein contained, which trust was deemed to be a war fund within the meaning ascribed to that term by section 2 of the War Funds Act 1915:
And whereas the present trustees, and the Dannevirke and District Returned Services Association (Incorporated), and all persons concerned are agreed that the purposes for which the said trust was established have failed and that the terms of the said trust are incapable of being continued:
And whereas there is a provision in the original trust deed which states as follows, namely, “Should the Executive Committee of the Institute together with the trustees decide at any future time that the Institute is no longer required and that the same should be wound up then the trustees shall hold the said trust property and funds for such purpose institution or object of a public nature or interest as the trustees and the committee of the said Institute at a joint meeting shall determine”:
And whereas the said Institute no longer exists as a body nor is there any survivor or successor of its Executive Committee:
And whereas the trustees and all persons concerned are agreed that the trust should be terminated and the real and personal property of the trust be vested absolutely and beneficially in the Dannevirke and District Returned Services Association (Incorporated):
And whereas the objects of this Act cannot be effected efficiently and economically otherwise than by legislation.