What the official record says
This Act is the Wanganui District Council (Port and Harbour) Act . This Act comes into force on the day after the date on which it receives the Royal assent. This Act binds the Crown. The purpose of this Act is— to confirm that the land is vested in the Wanganui District Council: to set out the purposes for which the land is held by the Wanganui District Council: to set out the purposes for which the income from the land can be held and/or applied: to terminate the River City Port Limited lease: to recognise existing leases of the land other than the River City Port Limited lease: to empower the Wanganui District Council to sell, lease or otherwise dispose of, and to deal with, the land: to set out the purpose for which the proceeds from the sale of land may be used: to empower the Wanganu