25

H.—43

(5.) In the absence of the Chairman from any meeting of a Soldiers' Property Board of Trustees the members present shall elect one of their number to be the chairman for that meeting. (6.) Meetings of any Board of Trustees shall be held at such times and places as the Chairman may appoint. The Chairman shall at any time summon a meeting of the Board of Trustees on the requisition in writing of any two members of that Board. (7.) At any meeting two members of a Hoard of Trustees shall form a quorum, and the decision of a Board of Trustees on any question before it shall be determined by a majority of the votes cast. (8.) At all meetings of a Board of Trustees the Chairman shall have a deliberative vote, and in the event of an equality of voting shall have a casting-vote also. 4. All deeds and other instruments executed by a Board of Trustees shall be signed by the Chairman and one other member thereof acting with the approval in writing of the National Efficiency Board. 5. (1.) Any soldier, whether of full age or a minor, may by a power of attorney purporting lo be executed in pursuance of these regulations appoint any Board of Trustees in its official name as his attorney, to exercise in respect, of his property, business, or affairs, or any part (hereof, in accordance with these regulations, such powers of management, sale, lease, or disposition as may be mutually agreed on between such soldier and the Trustees. (2.) No such power of attorney shall be accepted by a Board of Trustees except with the consent in writing of the Chairman of the National Efficiency Board or of the member of the Board of Trustees who is for the time being a member of the National Efficiency Board. 6. Every such power of attorney shall have the same operation and effect as if it had been granted jointly and severally to all of the members of the Board of Trustees who are in office at the time of the execution of the power of attorney, and to their successors in office, to the intent that the powers conferred by such power of attorney shall be exercisable from time to time and jointly and severally by the members of that Board for the time being in office. 7. Every such power of attorney shall continue in force for all purposes notwithstanding any notice of the death or incapacity of the soldier, and notwithstanding any revocation thereof, and notwithstanding the discharge of the soldier from, the Expeditionary Force, unless and until the Board of Trustees receives not less than three months' express notice in writing signed by the soldier of the revocation of the power of attorney, or, in the event of the death of the soldier, until probate of the will or administration of the estate of the soldier has been granted by the Supreme Court of New Zealand, or if probate of the will or letters of administration have been first granted by any other Court, then until such probate or letters of administration have been reseated in the Supreme Court, of New Zealand : Provided that the Board of Trustees may, with the approval of the National Efficiency Board and on giving to the soldier not less than three months' notice in writing of its intention so to do, surrender the trust at any time after the discharge of the soldier from the Expeditionary Force. 8. Every power of attorney granted under these regulations shall be subject not only to these regulations, but to every amendment thereof which may at any time thereafter be made in these regulations by Order in Council, save that no such amendment, shall so operate as to confer upon any Board of Trustees any power which is beyond the scope of such power of attorney. 9. No member of a Board of Trustees under these regulations shall incur any liability in respect of anything done or omitted by him in good faith in the execution or intended execution of the powers conferred by these regulations or by any power of attorney granted thereunder. 10. All moneys belonging to a soldier and coming to the hands of a Board of Trustees in pursuance of these regulations or of any power of attorney granted by that soldier shall, except so far as such moneys are, in the opinion of that Board, presently required for expenditure in pursuance of such regulations or power of attorney, be deposited in the Post Office Savings-bank or with the Public Trustee so as to form part of the common fund of the Public Trust Office : Provided that the Board of Trustees may, with the approval of the National Efficiency Board, from time to time withdraw any moneys so deposited if in the opinion of the Board of Trustees such moneys are required by it for expenditure as aforesaid. 11. (1.) Every Board of Trustees acting under a power of attorney executed pursuant to these regulations shall keep such accounts as the National Efficiency Board may from time to time prescribe. (2.) AH such accounts shall be audited half-yearly by an auditor approved for the purpose by the National Efficiency Board. (3.) At the close of each year or of such other period as the National Efficiency Board may appoint, the Board of Trustees shall prepare and submit to the National Efficiency Hoard a balance-sheet signed by the auditor, together with a statement of receipts and expenditure for the same period, and such other statements as the National Efficiency Board may require. 12. Any power of attorney executed pursuant to these regulations for the management of any property as a farm may authorize the Board of Trustees to manage such farm jointly with any other farm (whether a soldier's property or not), and in any such case the expenses of management shall be divided between the several properties in such proportions as the Trustees think proper. 13. The National Efficiency Board may from time to time make such rules for the guidance, direction, and assistance of Boards of Trustees as it may deem necessary for the efficient exercise and performance by such Boards of the powers and duties conferred or imposed on them by these regulations or by any power of attorney executed pursuant thereto, and every such Board of Trustees shall in the exercise of its functions be subject in all respects to the control and direction of the National Efficiency Board. P. W. FURBY, Acting Clerk of the Executive Council.

4—H. 43.