WHEREAS the lands and hereditaments described in the Schedule to this Ordinance annexed are vested in the Superintendent of the Province of Otago and his successors subject to the provisions of certain Acts passed by the Parliament of New Zealand intituled respectively the Public Reserves Act 1854 and the Public Reserves Act Amendment Act 1862 in trust as an endowment for the University of Otago incorporated by the Ordinance of the Superintendent and Provincial Council of the said Province of Otago passed in the 25th Session thereof, No 280, and intituled “An Ordinance to Incorporate the University of Otago”: AND WHEREAS by the said Public Reserves Act Amendment Act 1862 it is provided that it shall be lawful for the Superintendent and Provincial Council of any Province by any Act or Ordinance to be from time to time duly passed in that behalf to direct and declare that any land vested or which might thereafter be vested in the Superintendent of any Province under the provisions of the said Public Reserves Act 1854 upon trust for any public purposes should be transferred to and vested in and held by any Corporation, Commission or other person or persons having corporate succession to be named in such Act or Ordinance in trust for the like or for any other public purpose to be specified and declared in such Act or Ordinance in such manner and with such powers of lease, management and disposition over the same and over all rents, issues, profits and proceeds thereof and other powers, provisions and conditions as should in such Act or Ordinance be expressed or declared: AND WHEREAS it is expedient that the said lands and hereditaments so vested in the Superintendent of the said Province of Otago as aforesaid in trust as an endowment for the said University of Otago and described in the said Schedule hereto should be transferred to and vested in the said University of Otago upon the trusts and with and subject to the powers, provisions and conditions hereinafter declared.

The reference to the “Parliament of New Zealand” was substituted for a reference to the “General Assembly of New Zealand” by section 29(2) Constitution Act 1986.