• Preamble

  WHEREAS the leases specified in the Schedule hereto have been granted by the Napier High School Board, in the intended exercise of the powers vested in the said Board by The Napier High School Act 1882, and The High Schools Reserves Act 1880, [Repealed] for the term of forty-two years, at a rental increasing twenty-five per centum at the end of the fourteenth and twenty-eighth years of the said term: And whereas the terms of the said leases as to the increase of rent reserved thereby were fixed by the said Board in ignorance of the necessity that the rent reserved by such leases for the period beyond the first twenty-one years should, in accordance with the provisions of section six of The High Schools Reserves Act 1880, [Repealed] be an advance of at least fifty per centum upon the annual rent payable under such leases during the last year of the expired twenty-one years: And whereas, in fact, the rent reserved by the said leases specified in the Schedule hereto does not increase fifty per centum until the expiration of the twenty-eighth year of the terms thereby granted: And whereas the aggregate rental payable under the said leases as now drawn is the same sum as would be payable thereunder if the same had been drawn in accordance with the provisions of section six of The High Schools Reserves Act 1880, [Repealed] before referred to: And whereas the lessees under the said deeds of lease have entered into possession of the lands thereby demised, and have spent large sums of money in buildings and improvements, and many persons have become interested with the said lessees as mortgagees and sub-lessees: And it is expedient that the said deeds of lease should be validated as hereinafter provided:

BE IT THEREFORE ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:—