(1) The Wellington City Council (hereinafter termed the Council) is hereby authorized to pay out of its District Fund towards the cost of erection on the Mount Cook site, in the City of Wellington, of a building or buildings for the Dominion Museum and the Dominion Art Gallery the sum of thirty thousand dollars, by five equal annual payments of six thousand dollars each in each financial year after the passing of this Act, or by such other earlier payments as the Council shall by resolution determine.
(2) The Council may, pending the payment to the controlling authority of the Dominion Museum and the Dominion Art Gallery of any moneys so appropriated, invest all such moneys in the following manner:—
(3) The Wellington Harbour Board (hereinafter termed the Board) is hereby authorized to pay out of its Harbour Fund for the purposes mentioned in subsection one of this section the sum of ten thousand dollars, and may to that end appropriate in any financial year during the period of five years next after the thirtieth day of September, nineteen hundred and twenty-eight, such sums as it thinks fit, being not less than two thousand dollars in any one year, until the sum of ten thousand dollars is appropriated for this purpose.
(4) The Board may pay over to the controlling authority of the Dominion Museum and the Dominion Art Gallery any moneys so appropriated when and as the Board thinks fit, and pending payment may place the whole or any part thereof on deposit at interest in the manner provided by section 95 of the Harbours Act 1923.
(5) The interest accruing from any moneys deposited by the Board shall be applied either for the purposes mentioned in subsection one of this section or for the purchase of works of art for the Dominion Art Gallery or articles or exhibits for the Dominion Museum aforesaid as shall be directed by the Board by resolution.
(6) Notwithstanding anything contained in this section, if substantial progress in the erection of the building or buildings mentioned in subsection one of this section be not made within seven years from the date of the passing of this Act, the Board may by resolution cancel the appropriation of all or any of the moneys appropriated for the erection of the said building or buildings, and thereupon the moneys the appropriation of which shall have been so cancelled, together with the accumulations thereof, shall be repaid into the Harbour Fund.
Subsection (5) was amended, as from 13 November 1934, by section 21(1) Local Legislation Act 1934 (1934 No 33) by inserting after the words
“Art Gallery”, the words
“or articles or exhibits for the Dominion Museum”.
“thirty thousand dollars”,
“six thousand dollars”,
“ten thousand dollars”, and
“two thousand dollars” were substituted, as from 10 July 1967, for the words
“fifteen thousand pounds”,
“three thousand pounds”,
“five thousand pounds”, and
“one thousand pounds” pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27).