This Act may be cited as the Native Trustee Amendment Act, 1926, and shall be read together with and deemed part of the Native Trustee Act, 1920 (hereinafter referred to as the principal Act).

Notwithstanding the provisions of section seventy-one or seventy-two of the Property Law Act, 1908, the Native Trustee shall not be compelled to assign a mortgage debt in any case where he has good reason to believe that to do so would be assisting in an evasion of the provisions of the Native Land Act, 1909, with regard to confirmation of alienation by Natives of Native freehold land.

Moneys expressly directed to be invested otherwise than in the Common Fund created by section four of the Native Trustee Amendment Act, 1921–22, shall not form part of such Common Fund, and the Native Trustee may accept such moneys from any Native or incorporation of owners of Native land, and may invest the same in accordance with such direction; but such investments shall not be entitled to the protection afforded by the principal Act; and any loss or deficiency in respect of any such investments, or of the money received therefrom or realized thereby, shall be borne by the depositor or estate or incorporation to which such moneys belong, or, if received or realized, would belong.

Section twenty-four of the principal Act shall not apply to deposits under this section.

Forthwith upon the receipt by the Native Trustee of any such moneys he shall make reasonable effort to find an investment therefor in accordance with the special directions contained in the trust instrument (if any), and if the whole of such moneys cannot be so invested within one calendar month from the date of the receipt thereof the Native Trustee may, until such moneys can be so invested, temporarily appropriate and allocate as investment for such moneys, or any part thereof, one or more existing investments of the Common Fund of the same nature and kind as is required by the trust instrument. Any Common Fund investment while so appropriated and allocated as a special investment shall not be entitled to the protection afforded to Common Fund investments.

Where the Native Trustee in the administration of any trust acquires or seeks to acquire any land or estate or interest therein for the benefit of such trust it shall not be necessary for him to comply with the provisions of the Native Land Act, 1909, and the amendments thereof relating to limitation of area, and, in particular, sections seventy-two, seventy-three, seventy-four, and seventy-five of the Native Land Amendment Act, 1913, shall not apply to any purchase, lease, or other acquisition by the Native Trustee for the purpose aforesaid; and a certificate under the hand of the Native Trustee to the effect that any such transfer, lease, or other alienation is within the terms of this section shall be accepted by all Courts, Maori Land Boards, and District Land Registrars as sufficient evidence thereof.

Where any Court or a Judge thereof, or any Native, now or hereafter can appoint a trustee, executor, administrator, agent, or attorney, any such appointment may be made of the Native Trustee if he consents thereto.

Subject to the express provisions of the Native Land Act, 1909, and its amendments, or of the principal Act or the amendments thereof, the duties and rights of the Native Trustee under any appointment shall be the same as if the appointment had been of a private person.