This Act may be cited as the Education Reserves Amendment Act, 1911, and shall form part of and be read together with the Education Reserves Act, 1908 (hereinafter referred to as the principal Act).

The Trustees of a high school under the principal Act may grant leases of any lands vested in them.

All such leases shall be subject to the provisions of the Public Bodies’ Leases Act, 1908, and the Trustees of every such school are hereby declared to be a leasing authority within the meaning of that Act.

Notwithstanding the provisions of section three of the Public Bodies’ Leases Act, 1908, the powers of leasing hereby conferred upon the Trustees of high schools may be validly exercised, notwithstanding any restriction or limitation of leasing-powers imposed by any other Act in force at the passing of this Act.

All rents derived from any such lease shall from time to time be paid into the proper fund and be appropriated thereout for the purposes to which the annual income of the Trustees is for the time being properly applicable.

On the expiry of any lease granted by the Trustees of any high school and existing at the commencement of this Act, the Trustees may grant the former lessee a new lease of the same land, or of any part thereof, under the provisions of the Public Bodies’ Leases Act, 1908, for a period not exceeding twenty-one years, with perpetual right of renewal for periods not exceeding twenty-one years, at a rent for the first term of the lease to be fixed by valuation or arbitration in such manner as the Trustees determine.

Leases already made before the commencement of this Act may be surrendered with a view to new leases being granted under this section to the former lessees, and preliminary contracts (not inconsistent with the provisions of this section) may be made for effecting any such surrender and new lease.

Section eleven of the principal Act is hereby amended by omitting from subsection one the words “lease and,” and the words “lease or”; and by omitting from subsection two the words “rents and,” the words “lease or,” and the words “annual income or.”

Section twelve of the principal Act is hereby repealed.

The Governor may, on the recommendation of the Land Board of the district in which are situated any reserves or endowments vested in the Crown by or in pursuance of section two of the Education Reserves Amendment Act, 1910, set apart as sites for public schools, secondary schools, or technical schools any part of such reserves or endowments.

No transfer, sublease, or mortgage executed after the passing of this Act of any lease of an education reserve or endowment administered by a Land Board, or of any part thereof, shall be valid until and unless the written consent thereto of that Land Board has been obtained.

Section two of the Education Reserves Amendment Act, 1910, is hereby amended by inserting, after the word “prescribed” in subsection six, the words “and also the expenses incurred by the Board for the maintenance and upkeep of the said reserves and endowments.”

Section six of the Education Reserves Amendment Act, 1910, is hereby amended by omitting the words “to the credit of the Lands and Survey vote,” and substituting therefor the words “and form part of the Consolidated Fund.”

Section six of the Education Reserves Amendment Act, 1910, is hereby further amended by adding thereto the following subsections:—

The Board shall charge such fees for the preparation and approval of leases and for the approval of transfers, subleases, and mortgages in respect to the reserves and endowments administered by it as the Governor in Council by regulations in that behalf from time to time prescribes.

All such fees shall be paid into the Public Account and shall form part of the Consolidated Fund.