TARANAKI SCHOLARSHIPS.

Taranaki Daily News, Volume LVII, Issue 115, 8 October 1914, Page 6

TARANAKI SCHOLARSHIPS.

THE SKW PROPOSALS. The following are the proviaions made with respect to Taranaki .scholarships and the education endowments In we Carlyle and Opaku Survey Districts, as sot out in the Government's new bill, tht New Zealand University amendment Act, 1914: TARANAKI SCHOLARSHIPS,

| 17. —For tho purpose of bringing higher education within the reach of deserving scholars within the Taranaki Provincial District (hereinafter called tie district) there are hereby established scholarships I to be called "Taranaki Scholarships," and without respect thereto the following provisions shall apply: (a) One or more scholarships, as the funds will per.nit, shall bo offered annually, (b) The scholarships shall be awarded on the re suit of tlie Junior Scholarship Examination of the University, or in such other manner as the Senate, with the approval of the Minister of Education, decides: but no scholarship shall be awarded to x candidate unless he obtains credit in the examination, or has otherwise given evidence of the possession of sufficient qualifications. The scholarships shall be open to all candidates who have resided and attended a school within the district for not less than two years (such residence and attendance to have continued to within six months of the date of award), who are between the ages.of sixteen and nineteen years on the. first Day of December nearest to such date, who have not matriculated, and who have not carried on their studies at any affiliated institution, (d) Each scholarship shall be tenable for three years, and shall be of annual value of sixty pounds: Provided that the Senate may,! at its discretion, extend the tenure of a | scholarship for ono year longer in the case of tile scholar who has satisfactorily fulfilled the conditions hereinafter prescribed.. (2) The scholarship shall be paid by quarterly instalments; Provided that no payment shall be made unless the Chancellor is satisfied that the holder has fulftled the prescribed conditions up to the due date of the instalment. (f) The scholarship shall be held on the same conditions, and with the same privileges, as are prescribed (with respect to University National Scholarships). (g) A scholarship under this section shall not be tenable with any other scholarship. | 18.—The Senate may from time to I time, with the approval of the Minister | of Education, make regulations for the effectual carrying out of the objects of the last preceding section.

TARANAKI SHCOLARSIHPS ENDOWMENT. 19.—(1) The reserve prescribed in the schedule hereto is hereby invested in tho Crown in trust aB an endowment for providing Taranaki Scholarships under this Act. (2) The said reserve shall be administered and dealt with by the Taranaki Land Board, and that Board may either —(a) Grant leases and licenses under the Land Act, 1908, over the said reserve on the same terms and conditions in all respects as in tho case of Crown Lands, save that —'(i) The yearly rental reserved by any lease shall be five per centum of tho capital value of the land as determined by the Board;(ii) The term of any renewable lease or of any renewal thereof shall not exceed thirty-tree years; and (iii) the leasee or license?i shall not have the right to acquire the fee-simple of the land comprised in his lease or license; or (b) grant leases under the provisions of the Public Bodies' Leases Act, 1908, (if in the opinion of the Board it is desirable to do so), in the same manner as if tho Board were a leasing authority under that Act.

20.—With respect to the leases of any part of tho said reserve existing on tho commencement of this Act, the following provisions shall apply:—(a) All references in any such lease to the Public Trustee shall be deemed to bo references to the Taranaki Land Board, (b) All rents and other payments under any such lease shall be paid to the Receiver of Land Revenue of the Taranaki Land District.

21.—The holder of any lease of land forming part of the Bai'd reserve shall not be entitled to any rebate under sections ono hundred and sixteen and one hundred and seventeen of the Land Act, 1908. 22.—-(I) The revenue derived from the said reserve shall (after deducting sucn sum as may be prescribed for tho administration of tho reserve) he paid by the Receiver of Land Revenue into the Public Account to the credit of a separate account, and shall be paid over quarterly by the Minister of Finance to the Public Trustee. (2) The moneys paid to tho Public Trustee under the authority of this section, and all moneys heretofore received and now held by him in respect of the said reserve, shall be deemed to form part of the common fund of the Public Trust oflice, and shall be held in trust for the purposes specified in section seventeen hereof. (3) All moneys deducted by the Receiver of Land Revenue in respect of tho expenses of the adminisrattion of the said reserve shall be paid into the Public Account and shall form part of the Consolidated Fund.

23.—The Public Trusteo ig hereby directed to pay to the University from time to time, out of moneys held by him pursuant to the last preceding section, such sums as may l>e sufficient to pay tho amounts due to the holders of Taranaki Scholarships in each year, together with the reasonable expense of or connected with the award and management of suc'h scholarships. 24.—(1) Within one month after the close of one financial year the Senate shall cause to be prepared and submitted to the Audit olKce a statement in respect of that year showing—(a) The moneys received from the Public Trustee under the last preceding section, and the moneys expended in the payment of Taranaki Scholarships, and the expenses of or connected with the award and management of such scholarships; and (b) such other particulars as the Minister of Education from time to time perscribes by regulations under this Act. (2) Such statement shall be audited by the Audit Office, and shall, together with the certificate of the audit officer, be forwarded by the Senate to the Minister of Education.

25.—The Senate shall, at tlie end of each financial year, forward to Hie Minister of Education a general report as to the number of Taranaki Scholarships held and the progress made by the scholars.

20.—Holders of Taranaki Scholarships granted under the Education Act, 1908, and existing at the commencement of this Act, shall continue to be entitled to all the benefits of mie'li scholarship during the currency thereof in accordance with the conditions on which same wore granted.