This Act may be cited as the Education Reserves Amendment Act, 1931, and shall be read together with and deemed part of the Education Reserves Act, 1928 (hereinafter referred to as the principal Act).

Any lease of a high-school reserve or other education reserve under the principal Act, or of any endowment of the New Zealand University or of a constituent college thereof, which is due to expire at any time not later than the thirty-first day of December, nineteen hundred and thirty-four, may, with the approval of the Minister of Education, be extended by the leasing authority thereof for a period not exceeding five years.

Where on the expiration of any lease of an education reserve granted under the principal Act or under any other authority the holder is granted a renewal thereof, or is granted a new lease of the same land pursuant to any right, power, or authority, such new lease shall be deemed to be subject to all existing encumbrances, liens, and interests (if any) registered against the expired lease, and the District Land Registrar shall record on the new lease all such encumbrances, liens, and interests accordingly in the order of their registered priority.

The provisions of sections one hundred and twenty-four and one hundred and twenty-five of the Land Act, 1924 (relating to the postponement or remission, in certain circumstances, of rent payable by Crown tenants), are hereby extended to apply with respect to leases of education reserves administered by a Land Board in accordance with the provisions in that behalf of the principal Act.