(1) There is hereby established for the purposes of this Act a Board, to be called the Taranaki Scholarships Trust Board.

(2) The Board shall consist of—

• (a) One member who at the time of his election to the Board shall be a member of the House of Representatives for an electoral district that contains any part of the Provincial District of Taranaki and who shall be elected by such of the members of the House of Representatives as for the time being represent electoral districts that contain any part of that Provincial District:

  Provided that in the event of an equality of votes on any such election the Minister of Education shall have a casting vote:

• (b) [Repealed]

• (c) [Repealed]

• (d) [Repealed]

• (e) One member to be appointed in respect of each post-primary school (including a private school) in the Provincial District of Taranaki that has for the time being not less than 500 full-time post-primary pupils, which appointment shall in each case be made by the governing body of the school:

  Provided that the Taranaki Education Board shall not be entitled to appoint a member under this paragraph.

(3) The Board shall be a body corporate with perpetual succession and a common seal, and shall be capable of holding real and personal property, and of suing and being sued, and of doing and suffering all that bodies corporate may do and suffer.

(4) The Board shall be deemed to be a local authority for the purposes of the National Provident Fund Act 1950 (as continued in certain respects by the National Provident Fund Restructuring Act 1990), and section 6 of the Finance Act (No 2) 1941.

(5) Except as provided in section 5 of this Act, every appointed or elected member of the Board shall hold office for a term of 3 years, but may from time to time be reappointed or re-elected.

(1) The first appointments and elections of members of the Board shall in every case be made or held not later than the 31st day of December 1957.

(2) The following provisions shall apply in respect of the appointment of members under paragraph (e) of subsection (2) of section 3 of this Act by the governing bodies of post-primary schools:

• (a) The right of any governing body to appoint a member in respect of any school controlled by it shall be determined by the roll of the school on the 1st day of March immediately preceding the date of the appointment:

• (b) Every such member shall be a person who, at the time of his appointment, is ordinarily resident in the Provincial District of Taranaki, but need not be a member of the governing body which appointed him.

(3) Elections under paragraph (a) of subsection (2) of section 3 of this Act shall be held at such times and in such manner as may from time to time be prescribed by the Minister of Education.

(4) The first appointments and election of members of the Board shall in each case be notified in writing to the Vice-Chancellor of the University of New Zealand by the body making the appointment or the person conducting the election.

(1) If any person, while an appointed or elected member of the Board,—

• (a) Dies; or

• (b) Resigns his office by writing under his hand delivered to the Board or the Chairman; or

• (c) Is adjudged a bankrupt; or

• (d) becomes subject to a property order made under section 31 of the Protection of Personal and Property Rights Act 1988 or becomes a person for whom a trustee corporation is acting as manager under section 32 or 33 of that Act; or

• (e) Is convicted of any offence punishable by imprisonment,—

his office shall be thereby vacated, and the vacancy thereby created shall be deemed to be a casual vacancy.

(2) Every such casual vacancy shall be filled by the appointment or election of a new member in the manner in which the appointment or election to the vacant office was originally made. Every person so appointed or elected shall be appointed or elected for the residue of the term for which his predecessor was appointed or elected.

(3) If on the 1st day of March in any year the number of full-time post-primary pupils on the roll of any school in respect of which a member of the Board has been appointed or elected under paragraph (e) of subsection (2) of section 3 of this Act is less than 500, that member shall vacate his office on the 31st day of December next following or upon the earlier expiry of his term of office, and shall not be replaced until the governing body of the school again acquires a right to appoint a member in respect of the school in accordance with paragraph (a) of subsection (2) of section 4 of this Act.

(4) Unless he sooner vacates his office as provided in the foregoing provisions of this section, every member of the Board shall continue in office until his successor comes into office, notwithstanding anything to the contrary in this Act.

(5) The powers of the Board shall not be affected by any vacancy in the membership thereof.

(1) The Board shall from time to time elect one of its members to be Chairman of the Board.

(2) The Chairman of the Board shall preside at all meetings of the Board at which he is present. If at any meeting of the Board the Chairman for the time being is not present or there is no Chairman, the Board shall appoint some member present to act as Chairman in respect of that meeting.

(3) At any meeting of the Board the Chairman of that meeting shall have a deliberative vote; and, in the case of an equality of votes, he shall also have a casting vote.

(1) The first meeting of the Board shall be held at a time and place of which notice shall be given by the Vice-Chancellor of the University of New Zealand to the members, and meetings shall be held thereafter at such times and places as the Board or the Chairman shall decide.

(2) At every meeting of the Board 5 members shall form a quorum.

(3) Every matter before the Board shall be determined by a majority of votes of the members present at a meeting of the Board.

(4) Except as expressly provided in this Act, the Board may regulate its procedure in such manner as it thinks fit.

(1) The Board may from time to time appoint Committees consisting of 2 or more persons, being members of the Board or other persons; and may refer to any such Committee any matters for consideration or inquiry or management or regulation; and may delegate to any such Committee any of the Board's powers and duties, except—

• (a) The powers conferred by sections 12 and 15 of this Act; and

• (b) The powers to borrow money, to make bylaws, to enter into contracts, and to institute actions.

(2) The Board may at any time and from time to time discharge or reconstitute or continue any Committee; and may remove from office any member of a Committee and (if it thinks fit) appoint another member in his place.

(1) The reserve described in the Schedule to this Act, which reserve is vested in the Crown, shall on and after the 1st day of January 1958 be held by the Crown in trust as an endowment for the purposes of this Act:

Provided that section 16A of this Act shall not apply to the said endowment.

(2) The said reserve shall be administered and dealt with by the Land Settlement Board, and with respect to any of the land in the reserve that Board may either—

• (a) Grant leases under the provisions of the Public Bodies Leases Act 1969 in the same manner as if that Board were a leasing authority within the meaning of that Act; or

• (b) Grant renewable leases, or licences with or without a right of renewal, under the Land Act 1948 on the same terms and conditions in all respects as in the case of Crown land:

  Provided that the lessee or licensee shall not have the right to acquire the fee simple of the land comprised in his lease or licence.

(3) Nothing in this section shall deprive any lessee of any right of renewal now vested in him.

(4) The revenue derived from the said reserve shall (after deducting such sum as may for the time being be approved by the Minister of Finance for the administration of the reserve and without further appropriation than this section) be paid to the Taranaki Scholarships Trust Board.

(1) On the 1st day of January 1958 the Public Trustee shall pay to the Board all money then held by him pursuant to section 22 of the New Zealand University Amendment Act 1914.

(2) All such money, and all other property for the time being owned by the Board, shall be held and administered by it for the purposes of this Act:

Provided that this subsection shall not apply to any money or other property of which the Board has been appointed as trustee under subsection (2) of section 16 of this Act or to any property to which section 16A of this Act applies:

Provided also that section 16A of this Act shall not apply to any money or property to which this subsection applies.

(1) The Board shall apply such part as it thinks fit of its income (including income accumulated by it after the commencement of this Part of this Act but not including income received by the Board as trustee under subsection (2) of section 16 of this Act and not including income to which section 16A of this Act applies) in payment of all proper expenditure of the Board, and subject thereto for the following purposes:

• (a) The grant of Taranaki Scholarships and allowances relating thereto pursuant to section 12 of this Act:

• (b) The grant of post-graduate scholarships and allowances relating thereto pursuant to section 15 of this Act:

• (c) The exercise of any other powers, duties, and functions by this Act conferred on the Board.

(2) For the purposes of this Act, £3,500 of the money paid to the Board by the Public Trustee pursuant to section 10 of this Act shall be deemed to be income, and the balance of that money shall be deemed to be capital.

(1) For the purposes of bringing higher education within the reach of deserving scholars within the Provincial District of Taranaki, there shall be awarded, in accordance with this section, scholarships to be called Taranaki Scholarships.

(2) The Board may award one or more Taranaki Scholarships annually, as its income permits.

(3) No candidate shall be awarded a Taranaki Scholarship unless he has—

• (a) Obtained an A award in the University Bursaries Examination, or attained a standard approved by the Board for the purpose in the Entrance Scholarship Examination, conducted by the Universities Entrance Board; or

• (b) As a student enrolled at a tertiary institution at which such a scholarship is tenable, in any year been credited with passes, at a level of attainment acceptable to the Board for the purpose, in subjects or units that together constitute a full-time programme within the meaning of the Tertiary Assistance Grants Regulations 1980 or regulations passed in amendment of or substitution for those regulations.

(4) No candidate shall be awarded a Taranaki Scholarship unless, for a continuous period of at least 2 years, he either was enrolled at a school situated within the Provincial District of Taranaki, or was resident in that District and enrolled at a correspondence school established by the Minister of Education, and—

• (a) In the case of a candidate qualified under subsection (3)(a) of this section, that period included the 31st day of July in the year in which he sat the examination concerned; or

• (b) In the case of a candidate qualified under subsection (3)(b) of this section, that period either—

  • (i) Included the 31st day of July in the year before the year in which he first attended a tertiary institution; or

  • (ii) If the Board is satisfied that the candidate had good reason for delaying his enrolment at that institution, included the 31st day of July in the year 2 years before the year in which he first attended a tertiary institution.

(5) Notwithstanding subsection (4)(b) of this section, where the Board is satisfied that special reasons exist for doing so, it may award a Taranaki Scholarship to a candidate who is qualified under subsection (3)(b) of this section and who for any continuous period of at least 2 years either was enrolled at a secondary school situated in the Provincial District of Taranaki or was resident in that District and enrolled at a correspondence school established by the Minister of Education.

(6) A Taranaki Scholarship is tenable—

• (a) At any institution established under Part 14 of the Education Act 1989:

• (b) At any private training establishment (within the meaning of section 159(1) of the Education Act 1989) approved for the purposes of this Act by the Minister of Education by notice in the Gazette.

(7) A Taranaki Scholarship (other than a scholarship without emoluments) shall not be tenable with a University Junior Scholarship awarded by the Universities Entrance Board.

(8) Subject to subsection (7) of this section, the value and conditions of tenure of Taranaki Scholarships shall be specified by bylaws from time to time made by the Board.

The Universities Entrance Board shall, as soon as practicable in each year, transmit to the Taranaki Scholarships Trust Board the results of the Entrance Scholarships Examination and the Universities Bursaries Examination.

(1) Holders of Taranaki Scholarships granted before the commencement of this Part of this Act and current thereafter shall continue to be entitled to all the benefits of the scholarships during the currency thereof, except that those scholarships shall be held by them on the same terms and conditions as to the amount thereof and as to any allowances relating thereto as shall for the time being apply to Taranaki Scholarships awarded under this Act:

Provided that nothing in this subsection shall empower the Board to reduce the value of the benefits derived by any such holder in respect of a Taranaki Scholarship to less than the value thereof at the commencement of this Part of this Act.

(2) In the year 1958, and in each year thereafter during the currency of the scholarships, the Board shall pay to, or for the benefit of, the holders of Taranaki Scholarships to whom this section applies such amounts as may from time to time be payable in respect thereof pursuant to subsection (1) of this section.

For the purpose of assisting post-graduate studies of graduates of any University in New Zealand who have resided in the Provincial District of Taranaki there are hereby established scholarships to be called Taranaki Post-graduate Scholarships; and with respect thereto the following provisions shall apply:

• (a) They shall be available for award by the Board to any graduate of a University in New Zealand who, at the 31st day of December immediately preceding the date on which he matriculated as a member of a University in New Zealand, was qualified for award of a Taranaki Scholarship by attendance or residence and enrolment under the provisions of paragraph (c) of section 12 of this Act, whether or not the graduate was a candidate (either successful or unsuccessful) for award of a Taranaki Scholarship:

• (b) The Board may award one or more Taranaki Post-graduate Scholarships as and when it thinks fit:

• (c) The value and conditions of tenure of a Taranaki Post-graduate Scholarship shall be in accordance with bylaws which shall be made in that behalf by the Board.

• (d) [Repealed]

• (e) [Repealed]

(1) In exercising its powers, duties, and functions under this Act, the Board shall have the following powers:

• (a) To engage and employ on such terms and conditions as it thinks fit such servants and agents as it from time to time thinks fit on such terms and conditions as to remuneration and otherwise as it thinks fit; and from time to time to terminate any such engagement or employment and to vary the terms and conditions thereof:

• (b) To invest such part as it thinks fit of any funds for the time being vested in the Board in accordance with the provisions of the Trustee Act 1956 as to the investment of trust funds, and from time to time to realise, alter, or vary any such investments:

• (c) Subject to the terms of any instrument creating a trust affecting the same, to sell or lease or let any real or personal property for the time being vested in the Board; and to apply the proceeds of sale either immediately or at any time thereafter either in the purchase of other property or in any investment authorised by paragraph (b) of this section:

• (d) To take on lease or as a tenant any premises for the time being required by the Board for the exercise of its powers, duties, and functions under this Act:

• (e) To acquire such furniture, equipment, and other chattels as may from time to time be required by the Board for the exercise of its powers, duties, and functions under this Act; and to dispose of the same:

• (f) To manage, develop, subdivide, and improve any land for the time being vested in it under this Act; and do all things necessary for any such purpose:

• (g) To accept devises, bequests, gifts, and donations of any kind:

• (h) Generally to do all such acts and things as may be necessary or expedient for the exercise of the powers, duties, and functions of the Board under this Act.

(2) The Board may be appointed as trustee of any real or personal property for any educational purpose.

(3) The Board may charge a due proportion of its proper expenditure against real and personal property to which subsection (2) of this section or section 16A of this Act applies.

(1) Where under paragraph (g) of subsection (1) of section 16 of this Act the Board has accepted any devise, bequest, gift, or donation that has been given to the Board absolutely or for its general purposes, unless otherwise directed by the donor or by the instrument providing for the gift, the Board shall have power to apply both the income and capital so given for the purpose of bringing University education within the reach of deserving scholars within the Provincial District of Taranaki.

(2) Without limiting the generality of subsection (1) of this section, it is hereby declared that the Board shall have the power to apply income and capital to which that subsection applies for all or any of the following purposes:

• (a) The grant of Taranaki Scholarships and allowances relating thereto pursuant to section 12 of this Act:

• (b) The grant of Taranaki Post-graduate Scholarships and allowances relating thereto pursuant to section 15 of this Act:

• (c) The grant of further or other scholarships, bursaries, grants or allowances for the University education of deserving scholars within the Provincial District of Taranaki.

In exercising its powers, duties, and functions under this Act, the Board shall have power to borrow money either with or without giving security over any assets vested in it and either by way of overdraft or otherwise:

Provided that the amount so borrowed by the Board shall not at any time exceed half of the income of the Board for its preceding financial year.

(1) The Board, and any Committee appointed under section 8 of this Act, are hereby declared to be statutory Boards within the meaning of the Fees and Travelling Allowances Act 1951.

(2) The Board may pay to its Chairman remuneration by way of fees, salary, or allowances in accordance with the Fees and Travelling Allowances Act 1951, and the provisions of that Act shall apply accordingly.

(3) The Board may pay to its Chairman, and to members of the Board or of any Committee thereof appointed under section 8 of this Act, travelling allowances and expenses in accordance with the Fees and Travelling Allowances Act 1951, and the provisions of that Act shall apply accordingly.

The Board may from time to time make bylaws, not inconsistent with this Act, for all or any of the following purposes:

• (a) Prescribing the value, and conditions in respect of the granting and tenure, of scholarships and allowances under this Act, including scholarships and allowances granted before the passing of this section:

  Provided that no such bylaws shall come into force until they receive the consent of the Minister of Education:

• (b) Regulating the procedure of the Board:

• (c) Regulating the management and administration of assets vested in the Board:

• (d) Providing for such other matters as are contemplated by or necessary for giving full effect to the provisions of this Act and for the due administration thereof.

(1) All money belonging to the Board amounting to $10 and upwards shall, within 7 days after it has come into the hands of any member or servant or agent of the Board, be paid into the account of the Board at such bank as the Board from time to time appoints.

(2) No money shall be withdrawn from any such account, except by authority of the Board and by cheque signed by such person or persons as the Board from time to time, subject to any requirements of the Audit Office, may authorise.

(1) The Board must keep full and correct accounts of all money received and expended by it.

(1A) The Board is a public entity as defined in section 4 of the Public Audit Act 2001 and, in accordance with that Act, the Auditor-General is its auditor.

(2) The Board shall, as soon as practicable after the end of any financial year ending with such date as the Board may from time to time determine, cause its accounts for that year to be balanced, and full and true statements and accounts of all the money received and expended by it in that year and of its assets and liabilities at the end of that year, to be prepared and submitted to the Audit Office.

(1) The Board shall, within one month after the receipt of the accounts certified by the Audit Office, furnish to the Minister of Education a report of its proceedings and operations for its preceding financial year, together with a copy of its accounts for that year as so certified.

(2) A copy of the said report and accounts shall be forwarded to the Universities Entrance Board.