NATIONAL ENDOWMENTS

Otago Daily Times, Issue 13960, 20 July 1907, Page 7

NATIONAL ENDOWMENTS

' EDUCATION AND OLD-AGE PENSIONS. NINE MILLION ACRES RESERVED. ... [By TELEGBArii.I WELLINGTON,.,JuIy 19. The following arc the provisions of the National Endowments Bill, which was laid on the table of the Hoireo by Sir J. G. Ward this evening: — 1. This act may be cited as " The National Endowment Act, .1907." 2. This Grown land 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-age pensions. 3. Save so far as expressly provided by this act, no national endowment land shall to sold, nor shall any such land bo disposed of by way of occupation with right of purchase, under the provisions of "The Land Act, 1692." 4. Save 60 far as expressly, provided by tliie act, national endowment, land ehnll continue to be administered and dealt with in the same 'manner as other Crown land under tho provisions of " The Land Act, 1892," .

; 5. (1) The gross revenue received from national endowment land after the 31st day of March, 1908, shall bo paid by the Receiver of Land Revenue into tlie public account to tho credit of a separate account to bo called the national endowment account. (2) All 1 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. 6. Out. of the moneys in tho national endowment account there shall bo paid the ccat of the administration, of the nat ional endowment land, and also all sums which are now payable by law. out of the revonues so received from that land to any local or public authorities. '7. Of the residue of the moneys'm the national endowment account 70 per. cent, shall in each year be applied for the purposes of education and 30 per cent. lor the purposes of old-age pensions in tho manner hereinafter provided. 8. (1) Tho moneys so available for the purposes of education shall 'be 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 bo passed arc charged on the Consolidated Fund . for _ educational purposes, whether higher, secondary, or primary, and whether general-or technical. (2) Tho residue of the moneys so available for tho purposes of education after payment of all such charges as are mentioned in the proceding subsection shall be paid from time to time as the Colonial Treasurer directs and without further appropriation than this act to the I'xlucation Boards for educational purposes in accordance with law and in aid of the annual appropriations made -to the said boards. (3) An account shall bo taken periodically at such intervals, being not less than one year, as the Colonial Treasurer directs, showing tho amount,of all moneys so received' by Education Boards, and tho amount so received by each board shall thereupon lie deducted from tho fotal sum payable to that, board by virtue of any annual appropriation. 9. The moneys so available for the purposes of old-ago pensions shall from time to -time, without further appropriation than this act, bo paid by the Colonial Treasurer into tho Post Office account, a-nd shaJl be then applied in tho payment of old-ago pensions in accordance with the provisions of "Tho Old-age Pensions Act-, 1898."

10. Notwithstanding anything in this apt contained it shall bo lawful for any port-ion of the national endowment lanjl to bo set apart:as reserve for any purpose under the_ authority of any act in like manner as if this act had not been passed. 11. (1) Notwitst-anding anything in this act contained it Glia.ll lie lawful for (he Land Board of tho district in which any national endowment land is situated to soil with the consent of the Minister of Lands, and in such manner and on such terms as the said Land Board and tho said Minister think fit, any portion of such land not exceeding five acrc-a in any one ease, as a si te for any building to be ereoted for any educational, religious, charitable, or public purpose, or' for any other purpose which, in the opinion of the said Lund Board and the said Minister, renders- such a. sale expedient in tho public interest. (2) The purchase money of land so sold shall he pa.id into the national endowment account. 12. (1) It shall be lawful for tho Colonial Treasurer from time to time, in accordance with tho provisions of sections 73' to 75 of "The Looal Bodies' Loans Aot, 1901," to issue and apply such sums of money, not exceeding in any one year the sum of' £50,000, as aro appropriated by Parliament for tho purpose of the formation of roads or bridges upon any national endowment. land, or otherwise for the purpose of facilitating the settlement- of any such land. (2) The said sum shall be in addition to, and not in substitution for, tho sums authorised to be expended by section 73 of "The Looal Bodies' Loans Act, 1901." ' SCHEDULE. t Areas of national endbwrnentland. Districts. Acres. Auckland 900.000 Ha-wke's Bay 135.000 Taranaki ' 901000 Wellington 90.000 Nslfon 1.350.000 Marlborough 450,000 West land ... • 1.035.000 Canterbury ...1.800,000 Otago ■ ... 2,250,000 Southland 900,000 Total 9,000,000