The Taranaki Hospital and Charitable Aid Board and the Stratford Hospital and Charitable Aid Board may, on or before the thirty-first day of March, one thousand nine hundred and five, by an agreement executed under their respective common seals, make such an adjustment and apportionment of property, assets, liabilities, contracts, and engagements between the said Boards as they shall think fit, and such agreement shall be enforceable accordingly; but in default of any such agreement being come to on or before the said thirty-first day of March, one thousand nine hundred and five, it shall be lawful for the Controller and Auditor-General, or such other person as the Governor may appoint, to make the adjustment and apportionment, which shall be binding upon and be given immediate effect to by the said Boards; and in such case the costs and expenses of such adjustment and apportionment, which shall be fixed by the person making the same, shall be paid by the said Boards in equal shares.

The lands described in the Schedule hereto, which have heretofore been reserved by the Crown for the purpose of hospital-sites, are hereby vested in the Stratford Hospital and Charitable Aid Board for an estate in fee-simple for the purpose aforesaid, subject to the provisions of the principal Act; and the District Land Registrar at New Plymouth shall, upon the delivery to him of a copy of this Act, issue to the said Board, without charge, a certificate of title under “The Land Transfer Act, 1885,” for the said lands.