The Short Title of this Act shall be “The Wairarapa Town Lands Management Act 1870.”

All the estate and interest of the said Charles Rooking Carter in the lands and hereditaments described in the Schedules A and B shall upon the passing of this Act be divested and the same lands shall be and they are hereby vested in Henry Humphrey Jackson Samuel Moles and Moritz Hirschberg all of Greytown and in Alfred William Renall Joseph Masters and Robert Hare all of Masterton as joint tenants in fee-simple all of whom as well as any future Trustees of the said lands and hereditaments under the provisions of this Act are hereinafter called “the Trustees.”

The Trustees shall hold the said reserves so hereby vested in them and the rents issues and profits thereof and also all rents issues and profits already accrued in respect thereof upon trust for such purposes for the benefit of the inhabitants of the District of Wairarapa West and shall manage and deal with the same in such manner as shall be declared and set forth in any Act to be passed by the Superintendent and Provincial Council of Wellington and with such powers of leasing and exchanging such reserves or any part thereof as in any such Act may be specified subject nevertheless to any leases or dealings with the same reserves or any part thereof by the said Charles Rooking Carter by himself or in conjunction with any other person all which leases and dealings may be confirmed by any Act of the Superintendent and Provincial Council of Wellington.

It shall be lawful for the Superintendent and Provincial Council of the Province of Wellington in and by any Act to be passed for any of the purposes aforesaid also to make provision for the following purposes (that is to say)—

Upon every appointment of any new Trustees or Trustee the trust estates held by their predecessors in office under this Act shall vest without any conveyance or assignment in the continuing Trustees or Trustee and such new Trustees or Trustee their heirs executors or adminstrators as joint tenants or if there be no continuing Trustee then in the new Trustees their heirs executors or administrators upon the same trusts and with the same powers as the original Trustees or Trustee.