This Act may be cited as the War Funds Amendment Act, 1924, and shall be read together with and deemed part of the War Funds Act, 1915 (hereinafter referred to as the principal Act).

The National War Funds Council established under the principal Act shall, as from the commencement of this Act, be a body corporate, with perpetual succession and a common seal, with power, for the purposes of the principal Act (but not otherwise), to hold real and personal property, to sue and be sued, and to do and suffer all that bodies corporate may do and suffer.

Any contract which if made between private persons must be by deed shall, if made by the Council, be in writing under the seal of the Council.

Any contract which if made between private persons must be in writing signed by the parties to be charged therewith shall, if made by the Council, be either under the seal of the Council or signed by two members of the Council on behalf of and by direction of the Council.

Any contract which if made between private persons may be made verbally without writing may be similarly made by or on behalf of the Council by any two members acting by direction of the Council, but no verbal contract shall be made of a value exceeding twenty pounds.

All real and personal property which immediately prior to the commencement of this Act is vested in any member or in any two or more members of the Council, as such, shall by force of this Act, and without conveyance, transfer, or assignment, be vested in the Council for the estate and interest of such member or members therein, subject to all liabilities, charges, obligations, and trusts affecting the same.

On the commencement of this Act all the contracts, debts, and liabilities of any member or members of the Council, as such, shall become the contracts, debts, and liabilities of the Council.

The District Land Registrar shall, on written application under the seal of the Council, register the Council as proprietor of any lands registered under the Land Transfer Act, 1915, and vested in the Council by virtue of this Act

The Council may accept and receive any gift, bequest, or devise of money or property in trust for any purpose for which a war fund could be established under the principal Act, and may execute and administer any trust of such money or property in accordance with the provisions of the instrument constituting such trust; and may exercise with reference to such trust all the powers and authorities given to or vested in the Council by the principal Act in respect of war funds under its control so far as the same are or can be made applicable to the administration of such trust.

It shall not be necessary that the charitable or public purposes substituted for the purposes and trusts of any fund or of any part thereof pursuant to section four of the War Funds Amendment Act, 1918, shall be either identical with or analogous to any of the purposes defined in the principal Act as the appropriate purposes of a war fund.

Section five of the War Funds Amendment Act, 1918, is hereby repealed.

All moneys raised in New Zealand for the purposes of any war fund and held by the High Commissioner for New Zealand in London, and the securities upon which such moneys are invested, and all interest accrued and accruing thereon, shall be deemed to be war funds within the meaning of the principal Act, and shall be dealt with and controlled as provided by the principal Act; and all the provisions of sections three to ten of the War Funds Amendment Act, 1918, shall apply in respect thereof.

All such moneys shall, upon the request of the National War Funds Council, be transmitted by the High Commissioner to New Zealand, and shall be paid into the National War Funds Council Account for administration by the National War Funds Council.