When and as soon its the leases of the said lands shall have been duly signed and executed it shall be lawful for the Superintendent to convey and assure the said lands included in Reserves numbered respectively 1357 and l577 unto the Canterbury College incorporated under and by virtue of the Canterbury College Ordinance 1873 subject to the leases thereof so to be granted as aforesaid to be held by the said College upon trust for the several purposes respectively referred to in the Crown Grants of the said Reserves 1357 and 1577:
Provided always that it shall be obligatory upon the said College to sell and dispose of the said lands in parcels at the price and upon the same terms and conditions as those upon which the waste lands of the Crown in the Province of Canterbury are now open to sale pursuant to the Canterbury Waste Lands Regulations to all and every person and persons applying to purchase the same and that the money realised by every such sale shall be held and applied by the said College upon and for the same purposes respectively as are declared in the Crown Grant or Grants of the lands of which the portions respectively sold form part.
The Canterbury College Ordinance 1873 was repealed by section 44 Canterbury College and Canterbury Educational College Act 1896.