and that all the Demesne Lands of the Crown in the said Province of New Munster, and all the Estate and Right of Her Majesty therein, or Power and Authority over the same or any Part thereof, should from and immediately after the passing of the said Act, and during the Suspension of the said Instructions, be absolutely and entirely vested in the said New Zealand Company, in trust, to sell or otherwise dispose of the same as therein mentioned, and after reciting that it was expedient to provide for the Contingency of the New Zealand Company finding themselves unable to continue their Proceedings with Profit to themselves and Benefit to the said Colony, it was enacted, that if the Directors of the said Company should give Notice to One of Her Majesty's Principal Secretaries of State, within Three Calendar Months next after the said Fifth Day of April One thousand eight hundred and fifty, by any Instrument under the Seal of the Company, that they were ready to surrender the Charters of the said Company to Her Majesty, and all Claim and Title to the Lands granted or awarded to them in the said Colony, all the Powers and Privileges of the said Company (except as therein provided) should cease and determine, and all the Lands, Tenements, and Hereditaments of the said Company in the said Colony should thereupon revert to and become vested in Her Majesty as Part of the Demesne Lands of the Crown in New Zealand, subject nevertheless to any Contracts which should be then subsisting in regard to any of the said Lands, and upon certain other Conditions therein provided: And whereas by Letters Patent dated the Thirteenth Day of November in the Thirteenth Year of the Reign of Her present Majesty certain Persons therein named were constituted a Body Corporate, with perpetual Succession and a Common Seal, by the Name of "The Canterbury Association," for founding a Settlement in New Zealand, and were empowered to purchase, hold, and alienate Lands in the said Colony of New Zealand and its Dependencies: And whereas by an Agreement dated the First Day of December One thousand eight hundred and forty-nine between the said "Canterbury Association" and the said New Zealand Company the said New Zealand Company agreed to reserve as the Site of the Canterbury Settlement therein mentioned, and to place at the sole Disposal of the said Canterbury Association, the Lands described in the Schedule hereto annexed, during the Term of Ten Years from the Date thereof, subject to the Payment by the said Association of such Sums of Money and the Performance of such Conditions as therein mentioned: And whereas the said Association, with a view of founding

their said intended Settlement in New Zealand, issued a certain Document entitled "Terms of Purchase of Lands within the Canterbury Settlement," whereby, amongst other things, certain Benefits were reserved to certain Persons therein described as the First Body of Colonists, being such Persons as might become Purchasers of Land to an Extent not exceeding One hundred and one thousand Acres before the First Day of July One thousand eight hundred and fifty: And whereas the Directors of the said New Zealand Company have duly given Notice, in pursuance of the said Act, of their being ready to surrender the Charters of the said Company in manner prescribed by the said Act, and all the Lands, Tenements, and Hereditaments of the said Company in the said Colony including those described in the said Schedule have thereupon reverted to and become vested in Her Majesty as Part of the Demesne Lands of the Crown in New Zealand, subject nevertheless to any Contracts then subsisting in regard to any of the said Lands and to certain other Conditions therein mentioned: And whereas it is expedient to provide for the said Association having the Disposal of the Lands described in the said Schedule for such Time and subject to such Conditions as are herein-after mentioned: Be it therefore enacted by the Queen's most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authority of the same, That neither the Thirteenth Chapter of the said Instructions, dated the Twenty-third Day of December One thousand eight hundred and forty-six, nor the said additional Instructions of the Twenty-seventh Day of January One thousand eight hundred and forty-nine, shall henceforth apply to the Lands described in the said Schedule during the Period herein-after provided.

II. And be it enacted, That during the Term of Ten Years, and such further Term of Years as One of Her Majesty's Principal Secretaries of State may, by Writing under his Hand, declare, as herein-after provided, the said Association shall have Power, by Instrument under their Common Seal, to dispose of and convey all or any Part of the Lands described in the said Schedule, either by way of absolute Sale to Purchasers for Estates in Fee Simple, or by granting Licences for the Pasturage of the same, but subject to the Conditions following, and to the Terms of Purchase now or at any Time existing respecting the same as herein-after mentioned:

1. That, with the Exception of such Land as has already been or may hereafter