Papawai and Kaikokirikiri Trusts Amendment Act 1972
Papawai and Kaikokirikiri Trusts Amendment Act 1972
Papawai and Kaikokirikiri Trusts Amendment Act 1972
Papawai and Kaikokirikiri Trusts Amendment Act 1972
Private Act |
1972 No 5 |
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Date of assent |
20 October 1972 |
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An Act to amend the Papawai and Kaikokirikiri Trusts Act 1943
WHEREAS under the Papawai and Kaikokirikiri Trusts Act 1943 the lands described in the Schedule to that Act are vested in the Papawai and Kaikokirikiri Trusts Board on trust for the purpose of applying the net income derived from them towards the provision of scholarships for post-primary education, with preference to be given to boys and girls of the Ngatikahungunu Tribe residing in the Wairarapa district south of a straight line passing through Akitio and Pahiatua: And whereas for that purpose the Board wishes to augment its income as much as possible: And whereas the part of the Board’s land defined in the said Schedule as the Kaikokirikiri land, and situated in the borough of Masterton and the Masterton County, is now zoned partly as Industrial C and partly as rural: And whereas the part zoned rural adjoins the part zoned Industrial C and is adjacent to residential land, and may be zoned industrial or residential within the foreseeable future: And whereas since the passing of the Public Bodies Leases Act 1969 the Board’s leasing powers, as a leasing authority under that Act, are restricted to leasing farm land either in perpetuity or for a term not exceeding 5 years without right of renewal: And whereas because of the potential value of its Kaikokirikiri farm lands as future industrial or residential lands it is undesirable that the Board should lease them in perpetuity as farm lands: And whereas it is not economic for the Board or for lessees that the said farm lands should be leased for terms not exceeding 5 years without right of renewal, as because of the shortness of the terms the rents are likely to be lower than for longer terms and the lands may deteriorate: And whereas in the special circumstances and so as to obtain the best available income for the purposes of the trust the Board wishes to have power to lease its Kaikokirikiri farm lands for longer terms than 5 years, with provision in the leases to enable the Board to obtain the surrender of part of the leased land if needed for industrial or residential purposes:
Be it therefore enacted by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:
1 Short Title
This Act may be cited as the Papawai and Kaikokirikiri Trusts Amendment Act 1972, and shall be read together with and deemed part of the Papawai and Kaikokirikiri Trusts Act 1943 (hereinafter referred to as the principal Act).
2 Leasing of certain Kaikokirikiri lands
The principal Act is hereby amended by inserting, after section 14, the following section:
“14a
“(1)
In addition to its powers under paragraph (b) of subsection (1) of section 14 of this Act, the Board may from time to time lease any farm land that forms part of its Kaikokirikiri land (as defined in the Schedule to this Act) for a term not exceeding 7 years, with, if the Board thinks fit, a right of renewal for one term of the same or any shorter period at a rent to be determined by valuation in accordance with the First Schedule to the Public Bodies Leases Act 1969, so far as it is applicable.
“(2)
If in the opinion of the Board any part of any farm land to be leased pursuant to this section may during the term of the proposed lease or of any such renewal become usable for industrial or residential purposes, the lease and any renewal lease of that land shall contain a condition to the effect that the lessee, on the expiry of 6 months’ notice in writing given to him by the Board, shall surrender the lease with respect to such part of the land as may be specified in the notice, and that the rent for the balance of the land comprised in the lease after the date of the surrender shall be determined by valuation to be made in accordance with provisions in that behalf in the lease.
“(3)
Subject to the provisions of this section, any lease granted under this section shall be deemed for the purposes of the Public Bodies Leases Act 1969 to be a tenancy granted under paragraph (a) of section 11 of that Act, and that Act shall apply accordingly.”
3 Private Act
This Act is hereby declared to be a private Act.