✨ Legislation Text Continuation
161
rected to ascertain the sum (if any) which remained due and applicable
by the said New Zealand Company and which the said Company were
bound to apply to the purposes therein mentioned on the 4th day
of July 1850 aforesaid and that the sum of £25 000 with the interest
which should have accrued on the same should be vested in the
Commissioners of the Treasury as a fund for the public purposes of
the Settlement of Nelson and that the said Henry Aglionby
Aglionby, Alexander Currie, James Robert Gowan, George Lyall,
and Jeremiah Pilcher, should transfer the said sum and interest into
the names of the Commissioners of the Treasury or such person or
persons as the said Commissioners should nominate for that purpose
and that the same should be disposed of by the said Commissioners
in the manner thereafter provided and that if the amount which
might be found by the Commissioners of the Treasury to be due and
applicable to the purposes aforesaid should exceed the said sum of
£25,000 the surplus necessary to complete such amount should re-
main a liability attaching to Her Majesty with reference to the said
Settlement of Nelson.
AND IT WAS FURTHER ENACTED that a Board of seven Trus-
tees should be and the same was thereby appointed for the adminis-
tration of the said fund including such surplus (if any) as aforesaid
three of whom shall form at any time a quorum for the despatch of
business and that it should be lawful for the Commissioners of the
Treasury in such manner as they should appoint to pay over or cause
to be paid over the said sum of £25,000 with such interest as aforesaid
or so much thereof as might be found due and applicable as afore-
said to the said Trustees and that when such sum or sums should
have been paid over as aforesaid all further liability of Her Majesty
or of the New Zealand Company in respect of such fund and of
the amount applicable as aforesaid by the Company should cease.
AND IT WAS FURTHER ENACTED that the said Trustees
should have power to dispose of the said Fund for the benefit of
the said Settlement of Nelson to the purposes of emigration and the
supply of labour of religious end educational uses of steam naviga-
tion and of the construction and maintenance of public works in
such proportions as to each of the said purposes as to them
should seem expedient.
AND IT WAS FURTHER ENACTED that the first meeting of
the said Trustees should be fixed at a time and place to be appointed
by Proclamation by the Governor of New Zealand or by the Lieu-
tenant-Governor of the Province in which Nelson should be situate
being authorised thereto by the Governor and that such Trustees
might from time to time pass Resolutions for appointing a time and
place for holding further meetings for the despatch of business for
making rules and regulations for the conduct of such business and
for other necessary purposes towards enabling them to dispose of
and distribute the said Fund according to the purposes of the Act
now in recital. Provided always that the Legislature of New Zea-
land should have power to alter such Regulations by laws to be
made from time to time.
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NZ Gazette 1854, No 31
✨ LLM interpretation of page content
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AN ACT to make further provision for the administration of the Nelson Trust Funds.
(continued from previous page)
🏛️ Governance & Central Administration14 September 1854
Legislation, Nelson Trust Funds, Treasury Commissioners, Trustees, Fund administration, 1854
- Henry Aglionby Aglionby, Required to transfer funds to Treasury
- Alexander Currie, Required to transfer funds to Treasury
- James Robert Gowan, Required to transfer funds to Treasury
- George Lyall, Required to transfer funds to Treasury
- Jeremiah Pilcher, Required to transfer funds to Treasury