2310

SCHEDULE

A. R. P.
Description
15 2 19.4 Part Section 3, Block XIV; coloured yellow on
S.O. Plan 46787.
10 0 19.4 Whitianga Survey District, Part certificate of title
10C/31; coloured yellow on S.O. Plan 46787.
This notice was first published on the 6th day of October
1972.
Dated this 4th day of October 1972.
G. J. DENNIS, County Clerk.

INVERCARGILL CITY COUNCIL
Nominal Change—Method of Rating
THE council has resolved that, as from 1 April 1973, that
portion of the rating charge which in the past has been made
on the nominal annual value system will be based on the
capital value.
As the nominal annual value has always been calculated
at 6 percent of the capital value (and is, therefore, precisely
related to it) this will make no difference to the amount of
rates levied on individual properties.
Dated this 5th day of October 1972.
L. A. BEST, Town Clerk.

CHARITABLE TRUSTS ACT 1957, SECTION 36
TAKE notice that the Baptist Union of New Zealand has
applied to the Supreme Court at Auckland for the approval
of a scheme amending and adding to the powers given to the
applicant by a declaration of trust, dated the 20th day of
November 1909, in respect of the Manurewa Children’s Home.
Particulars of the scheme are as follows:
That clauses 25, 40, and 42 of the said Declaration of Trust
be deleted and that the following clauses be substituted
theretor:
“(1) That the trustees be empowered in their discretion :
(a) To expend whatever money it deems fit in subdividing
and developing any land owned by the Union and
administered by the Board or any part or parts
thereof, to employ surveyors, engineers, builders,
architects, land agents, or contractors, to prepare
plans, make roads, lay drains, and erect buildings
and improvements, and to do all such other acts,
deeds, or things as may in the opinion of the Union
be necessary or desirable to the proper carrying out
of such subdivision or development.
(b) To sell any land or chattels owned by the Union and
administered by the Board or any part or parts
thereof, either by public auction or private contract,
either in one lot or in parcels, and either for cash
or on such terms as to credit as the Union may deem
expedient.
(c) To expend moneys in the purchase of land for the
purposes of the trust declaration pertaining to the
Manurewa Children’s Home within the Auckland
Metropolitan Area or elsewhere in New Zealand, and
to develop such land and to erect and maintain
buildings thereon, either for use for the purposes of
the said trust or for investment purposes, and to raise
money on mortgage on any such lands up to two-
thirds of the value thereof, ascertained in the manner
set out in subsection (1) of section 10 of the Trustee
Act 1956.
(d) To expend moneys in the purchase of equity shares or
equity stock or convertible notes or debentures of
any companies listed on the stock exchanges of New
Zealand or Australia, and to retain, vary, transpose,
or sell any such investments subject to the following
conditions:
(i) the shares or convertible notes must be fully
paid up;
(ii) the company must have an ordinary share
capital of not less than five hundred thousand dollars
($500,000);
(iii) the company must have paid a dividend of at
least 5 percent for a period of 5 years or more.
(2) If at any time the Board shall decide that the necessity
for the said home has ceased to exist or that it is
impossible to carry on the work of such home, then,
and in any or either of such cases, the trustees shall
sell and dispose of the said land, or any land here-
inafter acquired for the purposes of the said home,
and shall also sell, call in, collect, and convert into

No. 83

THE NEW ZEALAND GAZETTE

money all other assets of the said home and upon all
such lands and assets being realised, the trustees shall
pay the proceeds of realisation to the treasurer for
the time being of such one of the Protestant homes
for children in New Zealand as shall be declared by
the Baptist Union in conference assembled as carry-
ing on under efficient management work closely
approximate to that carried on by the home the
subject of these presents: And further that such
proceeds shall be so paid subject to any conditions
which may be imposed by such Baptist Union: and
the trustees do further declare that any sale of land
effected by the trustees under the provisions herein
contained may be either by public auction or private
contract and upon such terms and conditions as the
trustees shall think fit: And further that upon any
such sale which may be effected by the trustees, no
purchaser or any person claiming under him shall be
bound or entitled to inquire whether the trustees are
lawfully or equitably authorised or empowered to
effect any such sale, but that any sale made by the
trustees shall so far as regards any purchaser, not-
withstanding any notice to the contrary, be absolutely
valid and effectual both at law and in equity not-
withstanding any impropriety or irregularity therein,
and the receipt in writing of the trustees shall be a
full and sufficient discharge to the persons paying
the same for all moneys expressed in any conveyance
or transfer to be received and no person shall be
bound or entitled to inquire as to the application
thereof, or be answerable for the misapplication or
non-application thereof.
(3) The costs in and relating to the drawing up of this
scheme, and the obtaining of approval thereto, shall
be paid out of the funds of the Board.”
The said application is set down for hearing in the Supreme
Court, at Auckland, on Friday, the 3rd day of November
1972, and any person desiring to oppose the scheme must give
written notice of his intention to do so to the Registrar of
the Court, at Auckland, and to the trustees at their address for
service, care of Nicholson, Gribbin, and Co., Solicitors, P.O.
Box 160, Auckland 1, and to the Attorney-General in Welling-
ton not less than 7 clear days before that date.

THE COMMERCIAL BANK SAVINGS BANK (N.Z.)
LIMITED

Deposits Guaranteed by The Commercial Bank of Australia Ltd.
BALANCE SHEET AS AT 30 JUNE 1972

    1971                $              1972
    $                          $

Authorised capital—
500,000 250,000 ordinary shares of $2 each .. 500,000
500,000
Issued and fully paid up capital—
250,000 ordinary shares of $2 each .. 500,000
Revenue reserves—
General reserve .. 250,000
Profit and Loss Account 75,310
200,000 251,895
51,895
751,895
Current liabilities and
provisions—
Depositors’ balances—
Ordinary accounts.. 15,733,995
Thrift accounts .. 271,789
Home lay-by ac-
counts .. .. .. 200,051
Investment accounts 8,017,615
14,140,315
220,741
205,463
9,541,850
24,108,369
Other liabilities, in-
cluding accrued in-
terest and home lay-
by subsidies .. 369,349
Provision for taxation
331,663
113,054
24,553,086
$25,304,981
24,223,450
24,711,086
$25,536,396