For the purposes of this Act the term “Gold” shall mean and include Gold in its natural state, whether mixed with any other substance or not, Gold Dust, and all other Gold, whether wrought or unwrought, except coined Gold issued from the Mint at London, or of the Branch thereof at Sydney, or of any Foreign State, articles of plate, jewellery, or ornament, actually worn upon the person or made elsewhere than in the Colony

From and after the day on which this Act shall come into operation, there shall be levied, collected, and paid to Her Majesty, Her Heirs and Successors, for the public uses of the Colony, and in support of the Government thereof, the following Duty upon Gold, that is to say—

At the Customs previous to exportation from New Zealand the sum of Two Shillings and Sixpence upon every ounce troy weight of such Gold, and so on in proportion for any greater or less quantity than an ounce:

Provided always, that until the next Session of the General Assembly, it shall be lawful for the Governor, by an order in Council, to declare that a lower rate of duty than Two Shillings and Sixpence shall be collected on each ounce; and also from time to time to suspend the collection of such duty whenever to the Governor in Council it shall seem meet.

The Revenue arising from such Duty shall not be deemed to be Customs Revenue within the meaning of the “Ordinary Revenue Act, 1858;” but it shall be lawful for the Governor to defray thereout all the expenses authorised for the Government of the Gold Fields, and the surplus, if any, shall be deemed and taken to be Revenue arising from the disposal and occupation of the Waste Lands of the Crown within the Province in which such Gold Fields are situated.

This Act shall not come into operation until Her Majesty’s pleasure shall have been taken thereon, and the same shall have been confirmed by Her Majesty with the advice of the Privy Council and a Proclamation of such confirmation having been given, shall have been made by the Governor of the Colony.

The Short Title of this Act shall be “The Gold Duty Act, 1858.”