(1) There may be paid out of money appropriated by Parliament for that purpose from the Land Settlement Account to the Public Works Account, in respect of the cost of the Petone–Waterloo Railway, an amount equal to the total amount of the principal sums outstanding on 31 March 1963, under the deferred-payment licences in force on that date in respect of lands disposed of pursuant to the Hutt Valley Lands Settlement Act 1925.
(3) Notwithstanding the repeal of section 11 of the Finance Act 1932, the provisions of that section shall continue to apply, as if it had not been repealed, with respect to money paid into the Land Settlement Account before 1 April 1963, in respect of lands disposed of pursuant to the Hutt Valley Lands Settlement Act 1925.