The Cheviot County Council (in this section referred to as the Council) is hereby authorised and empowered to expend moneys out of its general account for the purpose of celebrating and commemorating the hundredth anniversary of the settlement of Canterbury, and in connection with the establishment of a centennial memorial or centennial memorials, and, for any such purpose, to make grants to the body known as the Canterbury-New Zealand Centennial Association, Incorporated, and the expenditure of moneys by the Council prior to the passing of this Act for any such purpose is hereby validated and declared to have been lawfully made.