This Act may be cited as the New Plymouth Recreation and Racecourse Reserve Amendment Act 1910.

With respect to the land described in the Schedule hereto the Corporation is hereby declared to be a leasing authority under the Public Bodies' Leases Act 1908.

Notwithstanding anything contained in the Municipal Corporations Act 1908, the Corporation may, with respect to the said land, exercise all or any of the powers exercisable by a leasing authority under the Public Bodies' Leases Act 1908, but so nevertheless that no lease or underlease shall be granted or permitted by the Corporation by which any less area than one rood, or any greater area than five roods, shall be leased.

The Corporation shall, out of the revenue derived from the leasing of the said lands, in the first place pay or retain all expenses incurred by the Corporation in the exercise of the powers hereby conferred or incidental thereto, and pay one-half of the residue of such revenue to the Board of Trustees appointed under the Taranaki Botanic Garden Act 1876, to be expended by such Board in, upon, or about the lands vested in it for a botanic garden and public recreation-grounds, and expend the remaining half in, upon, or about the lands in or contiguous to the Borough of New Plymouth to which the inhabitants of the borough have for the time being the right of access for public recreation, or in acquiring other land for recreation purposes.

From and after the passing of this Act the said land shall cease to be subject to the provisions of the New Plymouth Recreation and Racecourse Reserve Act 1887.