The Short Title of this Act is “The Timaru Charitable Aid Institution Vesting Act, 1890.”

The lands described in the Schedule hereto, together with the buildings, fixtures, and improvements thereon, are hereby vested in the South Canterbury Hospital and Charitable Aid Board for an estate in fee-simple for the purposes of the reception and relief of aged, infirm, incurable, and destitute persons, and other purposes authorised by “The Hospitals and Charitable Institutions Act, 1885.”

It shall be lawful for the said Board from time to time, with the consent in writing of the Inspector of Institutions under “The Hospitals and Charitable Institutions Act, 1885,” to sell by public auction all or any part of the said lands, buildings, fixtures, and improvements, either together or separately, under and subject to conditions to be approved by such Inspector; but all moneys received from such sale or sales shall be laid out and expended in or towards providing another site to be approved by such Inspector, and in erecting the necessary buildings, fixtures, and improvements thereon; or, in the event of the whole of the said land not being sold, may, with such approval as aforesaid, be laid out and expended in or towards providing better accommodation, including new buildings, or additions, fixtures, and improvements on the portions of the land remaining unsold.

The said Board may also, with the consent of such Inspector, let any of the said lands not required for immediate use in manner provided and with, under, and subject to the terms and conditions mentioned in sections eighty-four, eighty-five, and eighty-six of “The Hospitals and Charitable Institutions Act, 1885;” but all rents and profits accruing therefrom shall be exclusively applied in or towards the purposes of the said Charitable Aid Institution.