Whereas by his last will dated the fifteenth day of February, nineteen hundred and forty, probate whereof was granted out of the High Court of New Zealand at Masterton on the fourth day of June, nineteen hundred and forty, Montfort Trimble, of Masterton, Doctor of Laws, deceased, bequeathed his residuary estate to his trustees for the purpose, amongst other things, of paying certain annuities and directed his trustees after the death of the last of the annuitants to transfer the corpus of his residuary estate to the New Zealand Insurance Company, Limited (hereinafter called the Company), in trust to invest the same and to apply the income of such investment in perpetuity for the purpose of public afforestation in the area (as existing at the date of his death) of the County of Masterton, in New Zealand, with power for the Company from time to time (in its discretion) to make such arrangement as it should deem conducive to the said purpose with any local or public authority: And whereas the Masterton County Council (hereinafter called the Council) has purchased for the said purpose an area of three hundred and sixteen acres, more or less, situate in Block VIII of the Miki-Miki Survey District, being part of Section 42 of the Opaki Block, being all the land comprised and described in certificate of title, Volume 401, folio 128 (Wellington Registry) at or for the sum of nine hundred and forty-eight dollars and are desirous of purchasing further lands at a later date for the same purpose: And whereas the Council intends from time to time in due and proper season to improve and to subdivide the lands so purchased and to plant and tend trees, shrubs, and other plants thereon: Be it therefore enacted as follows:—
(1) Notwithstanding anything to the contrary in the Counties Act 1920, or in section thirty of the Finance Act 1922, or in any other Act the purchase of the above-described land by the Council is hereby declared to be valid in all respects and the Council shall be deemed to have been duly empowered to purchase such land, and the Council is hereby empowered to purchase other lands for the same purpose and to improve and subdivide the lands purchased and to plant and tend trees, shrubs, and other plants thereon.
(2) Notwithstanding anything to the contrary in the Trustee Act 1956, or in the last will of the said Montfort Trimble the Company, notwithstanding that it has not yet been appointed trustee of the said will, is hereby empowered to approve of any scheme or schemes proposed by the Council to further the purpose of public afforestation in the County of Masterton as aforesaid and to approve of the expenditure of any sums of money already expended or to be expended by the Council for that purpose in purchasing lands and in improving and subdividing lands so purchased and in planting and tending trees, shrubs, and other plants thereon and to agree with the Council to refund to the Council the whole of the moneys so expended on any scheme or schemes approved of by the Company out of the first available income-moneys to fall into the hands of the Company from the corpus of the residuary estate of the said Montfort Trimble, deceased, and every scheme so approved by the Company shall have effect according to its tenor.
The reference to “nine hundred and forty-eight dollars”
was substituted, as from 10 July 1967, for a reference to “four hundred and seventy-four pounds”
pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27).
The words “High Court”
were substituted, as from 1 April 1980, for the words the “Supreme Court”
pursuant to section 12 Judicature Amendment Act 1979 (1979 No 124).
The Trustee Act 1908 was substituted, as from 4 August 1908, for a reference to the Trustees Act 1883 pursuant to section 1(2) Trustee Act 1908 (1908 No 200). That reference was in turn substituted, as from 1 January 1957, by a reference to the Trustee Act 1956 pursuant to section 89(1) Trustee Act 1956 (1956 No 61).