Thomas Cawthron Trust Act 1924

Reprint as at 30 January 2021

Coat of Arms of New Zealand

Thomas Cawthron Trust Act 1924

Private Act
 
1924 No 6
Date of assent
 
6 November 1924
Commencement
 
1 January 1925
Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

An Act to incorporate the trustees under the will of Thomas Cawthron, deceased; to make provision for additional trustees and the succession of trustees; and to confer certain special powers on the trustees.

Preamble

Whereas Thomas Cawthron, of the City of Nelson in New Zealand, retired shipping agent, by his last will and testament bearing date 15 December 1902, devised and bequeathed all his real and personal property (excepting certain household furniture and effects and certain properties in the said City of Nelson) unto the Bishop of Nelson, the Mayor of Nelson, the Chairman of the Waimea County Council, the members of the House of Representatives and Legislative Council for the City of Nelson and Waimea Electorate, the Chairman of the Nelson Harbour Board, and William Rout the younger, of the City of Nelson, in trust (after payment of certain legacies in the said will mentioned amounting in all to the sum of £8,100, and subject to certain annuities in the said will mentioned amounting in all to the yearly sum of £636), for the purchase of land and erection and maintenance of an industrial and technical school institute and museum to be called the Cawthron Institute:

And whereas the said Thomas Cawthron died on 8 October 1915:

And whereas probate of the said will was on 12 November 1915, granted to William Charles Sadlier, who was the Bishop of Nelson at the date of the death of the said deceased; Charles John Harley, who was the Mayor of Nelson at the date of the death of the said deceased; Horatio Everett, who was the Chairman of the Waimea County Council at the date of the death of the said deceased; Thomas Andrew Hemming Field, who was the member of the House of Representatives for the Nelson Electorate at the date of the death of the said deceased; and Henry Richard Duncan, who was the Chairman of the Nelson Harbour Board at the date of the death of the said deceased (the executors referred to or indicated in the said will under and by the titles to the respective public offices held by them); and to William Rout (formerly known and in the said will described as William Rout the younger), the executor personally named in the said will:

And whereas the said Charles John Harley died on 16 December 1922:

And whereas the said will made no special provision for succession in the event of a trustee dying:

And whereas the surviving trustees for the time being, in exercise of the powers conferred by the Trustee Act 1908, did by deed dated 10 May 1923, appoint Frederick Giles Gibbs, of Nelson, retired schoolteacher, to be a trustee in the place of the said Charles John Harley:

And whereas it is desirable that the trustees should be constituted a body corporate with perpetual succession and a common seal, and that certain powers should be granted for the administration of the said trust:

And whereas the objects of this Act are not attainable otherwise than by legislation.

 
1 Short Title and commencement

This Act may be cited as the Thomas Cawthron Trust Act 1924, and shall come into force on 1 January 1925.

2 Incorporation of Cawthron Institute Trust Board

There is hereby constituted a body corporate under the name of the Cawthron Institute Trust Board (hereinafter referred to as the Board) which shall have perpetual succession and a common seal, and shall be capable of holding real and personal property.

3 Constitution of Board

(1)

The Board shall consist of—

(a)

the persons holding for the time being the respective offices of—

(i)

Mayor of Nelson City:

(ii)

Mayor of Tasman District:

(iii)

Member of Parliament for the Electoral District of Nelson:

(iv)

Anglican Bishop of Nelson:

(b)

6 members appointed by the members holding office under paragraph (a), 3 of whom shall be appointed for their scientific knowledge and experience.

(2)

Before making any appointment under subsection (1)(b), the members holding office under subsection (1)(a)—

(a)

shall consult with, and have regard to the views of, the other members (if any) of the Board; and

(b)

shall satisfy themselves that any regulations made by the Board (under section 12(1)(a)) in relation to the appointment of members (and not inconsistent with this section) have been complied with.

(3)

Except as otherwise provided in this section, each of the appointed members shall hold office for a period of 3 years from the date of that member’s appointment, but may from time to time be reappointed.

(4)

Every appointed member, unless that member vacates office otherwise than by effluxion of time, shall continue to hold office until that member’s successor comes into office.

(5)

The office of any appointed member shall become vacant if the member—

(a)

dies; or

(b)

resigns office by written notice to the Board; or

(c)

is declared bankrupt; or

(d)

is convicted of any offence punishable by a term of imprisonment of 2 years or more; or

(e)

becomes subject to a compulsory treatment order made under Part 2 of the Mental Health (Compulsory Assessment and Treatment) Act 1992 or becomes a special patient as defined in section 2(1) of that Act; or

(f)

becomes a person in respect of whom an order is made pursuant to the Protection of Personal and Property Rights Act 1988.

Section 3: replaced, on 20 September 1993, by section 2(1) of the Thomas Cawthron Trust Amendment Act 1993 (1993 No 3 (P)).

4 Appointment of members to fill vacancies on Board
[Repealed]

Section 4: repealed, on 20 October 1966, by section 2(1) of the Thomas Cawthron Trust Amendment Act 1966 (1966 No 91).

5 Mode of appointment of Legislative Councillor as member of Board
[Repealed]

Section 5: repealed, on 20 October 1966, by section 2(1) of the Thomas Cawthron Trust Amendment Act 1966 (1966 No 91).

6 Membership of Board not to be increased because any member qualified to hold office in personal and also in official capacity
[Repealed]

Section 6: repealed, on 20 October 1966, by section 2(1) of the Thomas Cawthron Trust Amendment Act 1966 (1966 No 91).

7 Quorum

At any meeting of the Board 5 members thereof shall constitute a quorum, and the decision of a majority of the members present at any meeting of the Board shall be the decision of the Board. The chairman at any meeting of the Board shall have a deliberative vote, and in the case of an equality of votes shall have a casting vote also.

8 Time and place of meetings

Meetings of the Board may be held at any time or place appointed by the Board or by any 3 members thereof.

9 Validity of acts of Board not to be impaired by vacancies or defective appointments

The Board may act notwithstanding any vacancy in its membership, and the validity of any act of the Board shall not be affected or called in question by reason of any defect or informality in the appointment of a member of the Board.

10 Contracts of Board

(1)

Any contract which if made between private persons must be by deed shall, if made by the Board, be in writing under the seal of the Board.

(2)

Any contract which if made between private persons must be in writing signed by the parties to be charged therewith may, if made by the Board, be in writing signed on behalf of the Board by some person duly authorised in that behalf.

(3)

Any contract which if made between private persons may be made verbally without writing may be similarly made by or on behalf of the Board, but no verbal contract shall be made of a value exceeding £20.

11 Board may accept and administer other bequests, etc

The Board may accept and receive any gift, bequest, or devise of money or property in trust for the purposes of the Cawthron Institute, and may execute and administer any trust of such money or property in accordance with the provisions of the instrument constituting such trust; and may exercise with reference to such trust all the powers and authorities given to or vested in the Board by this Act, so far as the same are or can be made applicable to the administration of such trust.

12 Additional powers of Board

(1)

The Board shall have and may exercise all and singular the powers and authorities given to or exercisable by the trustees by or under the will of the said Thomas Cawthron, and in addition to and without derogating from such powers and authorities shall have power—

(a)

to regulate its own procedure, and the procedure that is to apply in relation to the making of appointments under section 3(1)(b):

(b)

to promote any Act of Parliament having special application to the said trusts, and to pay the costs of the promotion and passing of any such Act (including the costs of promoting and passing this Act) out of the moneys coming to the Board under the trusts of the said will:

(c)

for the purposes of any trust under its control, to hold land of any tenure, and to exercise with respect to the same all and singular the powers and authorities given to it under such trust or according to law:

(d)

for the purposes of the trusts under the said will, to sell, lease, mortgage, or otherwise dispose of all property vested in the said Board:

(e)

subject to subsection (2), to invest any of the money it holds under the trust in any property, including—

(i)

any securities; and

(ii)

any land; and

(iii)

the erection, alteration, or improvement of buildings on land owned by the Board; and

(iv)

the improvement of any land owned by the Board:

(f)

to manage all land, improvements, and buildings, owned by the Board:

(g)

to sell, lease, mortgage, or exchange any land owned by the Board:

(h)

to lease any building, or any part of any building situated on land owned by the Board:

(i)

to maintain and keep in good order, repair, and condition, all buildings and other works and improvements situated on land owned by the Board:

(j)

for the purposes of the trusts under the said will to carry on such activities and provide such services as the Board thinks necessary or desirable to enable the work of the Institute to be properly performed, and in particular, without limiting the generality of the foregoing,—

(i)

to carry on any business undertaking:

(ii)

to enter into any joint venture or partnership arrangement:

(iii)

to subscribe for or otherwise acquire shares in any company or other organisation or body:

(iv)

to invest any of the Board’s money in any activity or service carried on or provided by the Institute or in any such business undertaking, joint venture, partnership arrangement, company, or other organisation or body:

(v)

to borrow money:

(vi)

to lend money:

(vii)

to give guarantees.

(2)

The Board shall not invest any money in any mode specified in subparagraph (ii) or subparagraph (iii) or subparagraph (iv) of subsection (1)(e) until it has obtained and considered the written advice of a person—

(a)

whom the Board believes on reasonable grounds to be qualified to advise on that mode; and

(b)

who is not a member, officer, or employee of the Board.

(3)

Where the Board sells, leases, mortgages, or exchanges, any land held by it subject to any trust, or leases any building, or any part of any building, situated on any such land, it shall hold the proceeds or, as the case may be, the land acquired in exchange, upon the same trust.

Section 12(1)(a): amended, on 20 September 1993, by section 3 of the Thomas Cawthron Trust Amendment Act 1993 (1993 No 3 (P)).

Section 12(1)(e): replaced, on 30 January 2021, by section 161 of the Trusts Act 2019 (2019 No 38).

Section 12(1)(f): inserted, on 23 November 1979, by section 2(1) of the Thomas Cawthron Trust Act 1979 (1979 No 3 (P)).

Section 12(1)(g): inserted, on 23 November 1979, by section 2(1) of the Thomas Cawthron Trust Act 1979 (1979 No 3 (P)).

Section 12(1)(h): inserted, on 23 November 1979, by section 2(1) of the Thomas Cawthron Trust Act 1979 (1979 No 3 (P)).

Section 12(1)(i): inserted, on 23 November 1979, by section 2(1) of the Thomas Cawthron Trust Act 1979 (1979 No 3 (P)).

Section 12(1)(j): inserted, on 23 October 1981, by section 2 of the Thomas Cawthron Trust Amendment Act 1981 (1981 No 4 (P)).

Section 12(2): inserted, on 23 November 1979, by section 2(2) of the Thomas Cawthron Trust Act 1979 (1979 No 3 (P)).

Section 12(3): inserted, on 23 November 1979, by section 2(2) of the Thomas Cawthron Trust Act 1979 (1979 No 3 (P)).

13 Provision for a Capital Conservation Account

(1)

Notwithstanding the express or implied provisions and trusts in the will of the testator, but subject to the provisions of this section, the Board shall in each year set aside 4% of the gross income of the estate to be credited to a Capital Conservation Account.

(2)

The moneys credited to such account shall be separately invested by the Board, and the interest thereon shall be accumulated in such account until the amount of such account is £20,000, after which no further moneys shall be credited to the said Capital Conservation Account.

(3)

The interest bearing capital of the said estate (other than the said Capital Conservation Account) shall not (except by unavoidable losses of capital) be permitted to fall below the sum of £200,000. In the event of such capital falling below the sum of £200,000 the deficiency shall be made good from the said Capital Conservation Account, and any deficiency in such last-mentioned account below the sum of £20,000 shall be made good by an annual appropriation of income as mentioned in subsection (1).

14 Annual balance sheet and accounts

(1)

The Board shall, within 3 months after the close of each year ending on 31 March, cause a balance sheet to be prepared, together with a statement of accounts (including a receipts and payments account) showing fully the financial position of the said estate.

(2)

Such balance sheet and statement of accounts shall be audited and certified by an auditor appointed for the purpose by the Board.

(3)

The Board shall publish the balance sheet and statement of accounts, as certified, in the Gazette and in a newspaper circulating in the Provincial District of Nelson.

Section 14(1): amended, on 23 November 1979, by section 3 of the Thomas Cawthron Trust Act 1979 (1979 No 3 (P)).

15 Property of trustees vested in Board

(1)

All real and personal property which immediately prior to the commencement of this Act is vested in the trustees of the said will of Thomas Cawthron, deceased, or in any 1 or more of them subject to the trusts of the said will, shall by force of this Act, and without conveyance, transfer, or assignment, be vested in the Board for the estate and interest of the said trustees therein, subject to all liabilities, charges, obligations, and trusts affecting the same.

(2)

On the commencement of this Act all the contracts, debts, and liabilities of the said trustees as such, or of any of them, shall become the contracts, debts, and liabilities of the Board.

16 Registration of title

(1)

A memorandum referring to this Act may be registered in any Deeds Registry Office against any instrument of title registered under the Deeds Registration Act 1908, and affecting any land which by virtue of this Act is vested in the Board, and such registration shall have the same effect as if this Act were actually registered in full.

(2)

The District Land Registrar shall, on written application under the seal of the Board, register the Board as proprietor of all lands registered under the Land Transfer Act 1915, and vested in the Board by virtue of this Act.

17 Remuneration of Board

The members of the Board shall from time to time be entitled to receive by way of remuneration for their services such amount, not exceeding in the aggregate in any year the sum of $6,000, as may be agreed upon between the Attorney-General and the Board, and in the event of disagreement the amount of such remuneration shall be determined in the same manner as the remuneration of trustees is determined under the section 139 of the Trusts Act 2019. All moneys payable under this section shall be paid out of income coming to the Board under the trusts of the said will.

Section 17: amended, on 30 January 2021, by section 161 of the Trusts Act 2019 (2019 No 38).

Section 17: amended, on 9 December 1976, by section 2(a) of the Thomas Cawthron Trust Amendment Act 1976 (1976 No 121).

18 Application of Charitable Trusts Act 1957

Notwithstanding that the powers of the Board, the trusts established by the will of the said Thomas Cawthron, or the mode of administration of those trusts, may have been varied by this Act, it is hereby declared that Part 3 of the Charitable Trusts Act 1957 shall apply to the Board and to those trusts as if—

(a)

the purposes for which the property held by the Board is so held were charitable purposes within the meaning of that Act; and

(b)

the Board were trustees within the meaning of Part 3 of that Act; and

(c)

those variations had been effected under Part 3 of that Act.

Section 18: inserted, on 23 November 1979, by section 4 of the Thomas Cawthron Trust Act 1979 (1979 No 3 (P)).

Reprints notes
1 General

This is a reprint of the Thomas Cawthron Trust Act 1924 that incorporates all the amendments to that Act as at the date of the last amendment to it.

2 Legal status

Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act. A printed version of the reprint produced directly from this official electronic version also has official status.

3 Editorial and format changes

Editorial and format changes to reprints are made using the powers under sections 24 to 26 of the Legislation Act 2012. See also http://www.pco.parliament.govt.nz/editorial-conventions/.

4 Amendments incorporated in this reprint

Trusts Act 2019 (2019 No 38): section 161

Thomas Cawthron Trust Amendment Act 1993 (1993 No 3 (P))

Thomas Cawthron Trust Amendment Act 1981 (1981 No 4 (P))

Thomas Cawthron Trust Amendment Act 1979 (1979 No 3 (P))

Thomas Cawthron Trust Amendment Act 1976 (1976 No 121)

Thomas Cawthron Trust Amendment Act 1966 (1966 No 91)