The Short Title of this Act is “The West Coast Settlement Reserves Act 1881 Amendment Act, 1885.”

Out of any moneys standing to the credit of the Public Trustee’s Account the Public Trustee may at any time advance or pay, without the necessity of any authority other than is hereby conferred, such sum or sums of money as may be necessary for defraying the expenses attendant upon the survey of any reserves made or intended to be leased under the provisions of “The West Coast Settlement Reserves Act, 1881.”

Any sum or sums so advanced or paid shall be a charge upon the lands surveyed, in such proportions as the Public Trustee shall determine, and shall be repayable, together with interest thereon not exceeding seven pounds per centum per annum, out of the rents received or accruing due from the lessees of any of the said lands: Provided, however, that it shall be optional with the Public Trustee or other the persons having the management of the said reserves, to make such repayments out of the first year’s rents received in respect of the said lands, or to extend the same respectively over a period not exceeding five years.

Subject to the provisions of this Act it shall be lawful for the Public Trustee to execute to any person appointed in that behalf by the Board of the Public Trust Office any mortgage or pledge of the said rents which the Board may reasonably require for the purpose of securing the repayment of any moneys so advanced or paid as aforesaid.