On the first day of January, 1859, and thenceforward on the same day in every third year, (unless such day shall fall upon a Sunday, in which case the election shall take place on the Monday next following,) seven of the Electors, duly qualified and registered under the provisions of the recited Act, shall be elected Trustees of the Nelson Trust Funds, for the purposes of the recited Act, to continue in office for the period of three years next ensuing such election, and the present or any other retiring Trustees (or any one of them) who shall be duly qualified and registered shall, respectively, be eligible for re-election.

The Trustees elected in January, 1855, shall be deemed and taken for all purposes whatsoever to have been duly elected Trustees of the said Trust Funds for the term of four years instead of three years (as provided by the said recited Act) and shall continue to hold office accordingly, until their successors are elected under the provisions of this Act; and all acts done or to be done by them as such Trustees shall be as valid and effectual as if done within the term of three years for which they were elected.

In the event of no valid election of Trustees being made on any of the days hereby appointed, the Trustees, who would otherwise retire shall continue to administer the affairs of the Trust, and to exercise all the powers and discretions vested in the Trustees of the Nelson Trust Funds until their successors are duly elected on the next or some subsequent triennial day of election, and, in the meantime, all acts done by them in such administration or in exercise of such powers and discretions, shall be valid and effectual.

This Act shall be read and construed as part of the “Nelson Trust Funds Act, 1854,” and the “Nelson Trust Funds Amendment Act, 1856.”

The Short Title of this Act shall be the “Nelson Trust Funds Amendment Act, 1858.”