NATIONAL ENDOWMENT ACT.

Rangitikei Advocate and Manawatu Argus, Volume XXXII, Issue 8869, 20 July 1907, Page 3

NATIONAL ENDOWMENT ACT.

(1) This Act may be cited as the National Endowment Act, 1907. (2)®The Crown lands described in the schedule hereto and hereinafter called national endowment land, is hereby set apart as a permanent endowment for the purpose of education and old ago pensions. Save so Ear as is expressly provided by this Act. no national endowment land shall be sold, nor shall any such land be disposed of by way of occupation with right of purchase under the provisions of the Land Act, 1802, (3) Save so far as is expressly provided by this Act, national endowment land shall continue to be administrative and dealt with in the same manner as other Crown land under the provisions of the Land Act, 1902. (4) 1 The gross revenue 'received from the national endowment land after the 31st day of March, 1903. shall be paid by the receiver of land revenue into the public account to the credit of a separate account to be called the National Endowment Account. (2) All revenue received from national endowment land on or before the said 31st day of March, 1908, shall be dealt with as if this Act had not been passed, (ti) Oat of the moneys in the national endowment account there shall be paid the cost of the administration of the national endowment land and also all sums which are now payable by law out of the revenues so received from that land, to any local or public authorities. (7) Of the residue of the moneys in the national endowment account, 70 per cent shall in each year be applied for the purposes of education and 30 per cent for the purposes of old age pensions in a manner heroin after provided. (8) 1 The moneys so available for the purposes of education shall bo • applied from time to time, without further appropriation than this Act, in payment of all amounts which by any Act now in force or hereafter to be passed are charged on the Consolidated Fund for educational purposes, whether higher, secondary or primary, and whether general or technical. (2) The residue of the moneys so available for the purposes of education after payment of all such charges as arc mentioned in the last preceding sub-section, shall he paid from time to time as the Colonial Treasurer directs, and without further appropriation than this Act, to the Education Boards for educational purposes, in accordance with larv and in aid of the annual appropriations made to the said Boards. (3) An account shall be taken periodically at

sucli intervals, being not loss than one year as the Colonial Treasurer may direct, showing the amount of all moneys so received by .each Education Board shall thereupon bo deducted from the total sum payable to that Board, by virtue of any appropriation. The moneys so available for the purposes of Old Age Pensions shall from time to time, without further appropriation than this Act, be paid by tho Colonial Treasurer into the Post Office account and shall bo then applied to tho payment of old ago pensions in accordance with the provisions of tho Old Age Pensions Act. 189 S. (10) Not withstanding anything in this Act contained, it shall be lawful for any portion of National endowment land to bo sot apart as a reserve for any purpose under

the authority of any Act, in like manner as if this Act had not been passed. 11 (1) Notwithstanding anything in this Act contained it shall bo lawful for the Land Board of the district in which any National endowment land is situated, to sell with the consent of the Minister of Lands, and in such manner and on such terms as the said Land Board and the said Minister think fit, any portion of such land not exceeding fire acres in any one case, as a site for any building to ho erected for any educational, religious, charitable, or public purpose, or for any otber purpose, which in the , opinion of the said Land Board and the said Minister, renders such a sale expedient in the public interest. (2) The purchase money of land so sold sliall bo paid into the national endowment account. 12. (1) It shall bo lawful for the. Colonial Treasurer from time to time in accordance with the provisions of sections seventy-three to seventy-five of the Local Bodies Loans Act, 1901, to issue and apply such sums of money not exceeding m any one year, the sum of fifty thousand pounds, as appropriated by Parliament for the purpose of the formation of roads or bridges to facilitate the settlement of any such land. (2) The said sums shall bo in addition to, and not in substitution for, tho sums authorised to be expended by section seventy-three of the Local Bodies Loans Act, 1901. Schedule of areas of national endowment land is as follows: Auckland district. 90,000 acres; Hawke’s Bay, 135,000; Taranaki, 90,000 : Wellington, 90.000; Nelson, 1,035,000; Marlborough, 450,000; Westland, 1,035,000; Canterbury. 1,800000; Otago, 2,250,000 ; Southland, 900,000. Total. 9,000,000 acres.