This Act may be cited as the Tauranga Harbour Board Loan and Empowering Act 1968.

In this Act, unless the context otherwise requires, the term “Board” means the Tauranga Harbour Board.

This Act shall be deemed to be a special Act within the meaning of the Harbours Act 1950 and the Local Authorities Loans Act 1956.

It shall be lawful for the Board from time to time to borrow, in addition to the sums authorised by any previous Acts, but subject to the provisions of the Harbours Act 1950 and of this Act and of the Local Authorities Loans Act 1956, any sum or sums not exceeding in the aggregate the sum of two million six hundred and ninety-six thousand dollars.

All money borrowed under this Act (other than any money refunded pursuant to subsection (2) of this section) shall be applied and expended in the construction of the harbour works and for the other purposes specified in the First Schedule to this Act.

The Board is hereby authorised to refund to its Harbour Fund Account from money borrowed under the authority of this Act the amount of any money expended, not exceeding two hundred thousand dollars, whether before or after the passing of this Act, in the construction of the harbour works and for the other purposes specified in the First Schedule to this Act.

The Board is hereby authorised to purchase or acquire, maintain, and work the dredge specified in the First Schedule to this Act.

It shall be lawful for a trustee unless expressly forbidden by the instrument (if any) expressly creating the trust, to invest any trust funds in his hands in any debentures or other securities that may be issued or created by the Board in respect of the borrowing by the Board of any of the money authorised by this Act to be borrowed.

Notwithstanding anything in the Harbours Act 1950, and without prejudice to any of the powers contained in or any rights granted under section 8 of the Tauranga Harbour Board Loan and Empowering Act 1959, the Board is hereby authorised, when congestion occurs, or, in the opinion of the Harbourmaster or his Deputy, is likely to occur in handling cargoes in the Port of Tauranga, to regulate and control the allocation of berthage and storage and to grant prior rights thereto, during construction of the additional berthage referred to in the First Schedule to this Act.

The Board is hereby authorised, notwithstanding anything in section 175 of the Harbours Act 1950, but subject to the provisions of sections 176 to 182 of that Act, to reclaim from the waters of the Harbour of Tauranga the land described in the Second Schedule to this Act.

The Minister of Marine may from time to time, by notice published in the Gazette, give notice that the whole or any part of the land described in the Second Schedule to this Act has been effectively reclaimed from the waters of the Harbour of Tauranga and may by the same or any subsequent notice vest in the Board for an estate in fee simple for the purposes of the Harbours Act 1950, subject nevertheless to the same reservations and restrictions as are imposed by section 59 of the Land Act 1948, those portions of any land so reclaimed which were theretofore vested in Her Majesty the Queen.

Every notice published pursuant to subsection (1) of this section vesting any land in the Board shall be deemed to be an enactment within the meaning of section 99a of the Land Transfer Act 1952 and the provisions of that section shall apply accordingly.

Section 5 of the Tauranga Harbour Board Loan and Empowering Act 1967 is hereby amended by inserting, after the words “the whole”, the words “or any defined part”; and by inserting after the words “the said land”, the words “or part of the said land, as the case may be”.