63

H.—22a

Hospitals and Charitable Institutions.

9

tively; but in the absence of any such direction the proceeds therefrom shall be applied in such manner as the Board directs for or towards some permanent improvement of the institution, or the extension of the objects for which the institution was founded. (2.) Pending such application as aforesaid, all proceeds from any such bequest or devise shall be invested in securities issued by the Government or bj' any local authority under any Act, or on mortgage of land in New Zealand held in fee-simple, and the interest accruing from year to year in respect of such investments may be applied towards the maintenance of the institution. (3.) All moneys paid from time to time as subsidy in respect of any bequest or devise shall be deemed to form part of such bequest or devise, and shall be appropriated and applied in the same manner, and not otherwise. 34. The Board shall take all necessary steps for providing funds for the maintenance of any institution vested in it, or under its control, and may appoint persons to collect voluntary contributions or donations for that purpose, and shall receive and collect from the several contributing local authorities in the district the contributions they are required to furnish from time to time. 35. At every institution a book, to be called " The Contributors Book," shall be kept, in which shall be entered the. names and addresses of all persons contributing towards the support thereof, and the amounts contributed by each person. 36. All moneys belonging to the Hospital and Charitable Aid Fund shall be paid into such bank as the Board from time to time determines, and shall be paid thereout only by cheques signed by the Treasurer, and countersigned by any two of such of the members of the Board as are authorised from time to time by the Board to sign cheques. 37. (1.) The Board shall, during the month of March in every year, estimate the amount of the expenditure required for the maintenance of the institutions in the district under its control up to the last day of March in the following year. (2.) From such estimated expenditure shall be deducted, the estimated income of the Board for the like period, and the remainder, less the amount receivable from the Consolidated Fund in respect of such remainder, shall be apportioned by the Board among the local authorities within the district in proportion to the rateable value of the rateable property in the district represented by each such local authority, and the amount so apportioned to each local authority shall be payable accordingly. (3.) Every contributing local authority liable to pay any contribution under this section may pay the same out of its ordinary funds or may, if it thinks fit, raise the required amount by a rate to be made and levied for that purpose. (4.) Every such rate shall be made, levied, and collected in the same manner, and with, under, and subject to the same powers, rights, and authorities in all respects, as general rates made and levied by such local authority. (5.) One-half of such rate may be deducted by the occupier from any rent payable by him to the owner of the land and premises occupied by him and so rated.

Application of annual prooeeds therefrom.

Subsidies for bequests to form part thereof.

Board to collect moneys of fund.

" Contributors Book " to be kept.

All moneys to be paid into bank and paid out by cheques

Apportionment of expenditure for maintenance among contributing local authorities.

Local bodies may pay contributions out of ordinary fund or levy rate.