Whereas by grant under the public seal of the Colony of New Zealand and hand of Sir George Grey the Governor thereof the lands described in the Schedule hereto were granted to Isaac Earl Featherston as Superintendent of the Province of Wellington under the provisions of “The Public Reserves Act 1854” in trust as a racecourse and for purposes connected therewith

And whereas by “The Public Reserves Act Amendment Act 1862” it is enacted that the Superintendent and Provincial Council of any Province may by Act direct and declare that any lands vested in the Superintendent under the provisions of “The Public Reserves Act 1854” upon trust for any public purposes shall be vested in and held by any corporation commission or other person or persons having corporate succession in trust for the like or for any other public purposes and it is also therein enacted that it shall not be lawful for the Superintendent and Provincial Council of any Province to pass any Act for the sale of any lands which have been reserved for recreation grounds

And whereas by an Act of the Superintendent and Provincial Council of the Province of Wellington intituled “The Wairarapa Racecourse Act 1866” the Superintendent of the said Province was authorized to vest the said land described in the Schedule hereto in certain persons in the said last-mentioned Act named having corporate succession and upon the like trusts as in the said grant are specified And whereas the said Superintendent has by deed transferred the said lands to and vested them in the said trustees on such trusts as aforesaid

And whereas it is expedient that the trustees for the time being of the said Wairarapa Racecourse should be empowered to exchange all or any of the lands described in the Schedule hereto in manner hereafter mentioned