WHEREAS the land described in Schedule 1 hereto is vested in Lancaster Park, Limited, a company duly incorporated under the Companies Act 1908, in trust for the purposes of promoting and developing football and cricket and other amateur athletic sports: And whereas the said land and the buildings thereon have been used for many years for the purposes of cricket, football, and other sports under the auspices of the directors of the said company, consisting of the Mayor of Christchurch for the time being, three persons representing the Canterbury Cricket Association, three persons representing the Canterbury Rugby Football Union, and one person appointed to represent amateur sports other than cricket and football: And whereas there has been contributed by the public, mainly by the efforts of the Canterbury Commercial Travellers' and Warehousemen's Association (Incorporated), the sum of sixteen thousand dollars, or thereabouts, for the purpose of discharging the mortgage debt owing by the said company upon the said land conditionally upon the said land being vested in His Majesty the King to be held for all time in trust for the purposes mentioned in this Act in commemoration of the victory of the Allies in the recent war with Germany and of the Canterbury soldiers who have died in the service of their country: And whereas the said company and the said cricket association and the said Rugby football union desire that the said land should be vested in His Majesty the King for the purposes mentioned in this Act, and that the same shall henceforth be under the entire control and management of a Board with the powers and authorities hereinafter provided:
The words “sixteen thousand dollars”
were substituted, as from 10 July 1967, for the words “eight thousand pounds”
pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27).