(1) Ruataupare ceases to be a conservation area under the Conservation Act 1987.
(2) The fee simple estate in Ruataupare vests in the trustee.
(3) Subsections (1) and (2) are subject to the trustee providing to the Crown a registrable covenant for Ruataupare, in the form of the covenant set out in the documents schedule.
(4) The covenant is to be treated as a conservation covenant for the purposes of—
(a) section 77 of the Reserves Act 1977; and
(b) section 27 of the Conservation Act 1987.