18.—9

32

(b) where any local or other authority having statutory power to alienate or administer has commenced proceedings "in exercise of its statutory powers or given notice of its intention to do so ; or (c) where the administration is likely to be involved and difficult and the object of the applicant could be more suitably attained by special legislation. The Public Trustee does not intervene until requested to do so by some person or body interested, in the disposal of the land. By means of this practice is removed the fear expressed in Ex parte Johnson (12 N.Z. L.R. 640) as to the practical effect of the reversal wrought by the Act of the usual legal principle that a claimant of land must succeed on the strength of his own title and not on the weakness of the occupant's title. Once the land becomes vested in the Public Trustee he holds it in trust for the owner. He therefore exercises the diligence and care necessary to protect the interests of those beneficially interested. The land dealt with is of varying value. Experience shows that in the majority of cases it is in the best interests of the owner to sell the land, as owing to lack of funds the Public Trustee is unable to exploit it, and the restriction of area makes it a difficult matter to lease. The Public Trustee has discretionary power to sell land not exceeding £500 in value in such manner as he deems advisable, without obtaining Court authority. Each individual case is considered on its merits, as the conditions appertaining to each parcel of land dealt with vary considerably. The Public Trustee has also power to lease for any term not exceeding twenty-one years, subject to the terms and conditions provided for reserves under the West Coast Settlement Reserves Act, 1892. As can be readily understood, the rent obtained for land depends upon a variety of circumstances, such as its fertility, size, and situation. It is usual, to offer the leases by tender in order to secure by competition the best rent obtainable. Although unclaimed lands are vested in and administered by the Public Trustee in trust for the owners, the Public Trustee can recognize the title of the owner of the land or its proceeds only in pursuance of a -Judge's order made under section 75 of the Act. By section 76, if within twenty years from the date that the land becomes vested hi the Public Trustee no person has established to the satisfaction of the Supreme Court his title to it or the moneys arising therefrom, the estate or interest of such person becomes the property of the Crown. UNCLAIMED PROPERTY. 71. Part 111 of the Public Trust Office Act, 1908, deals with unclaimed property, which includes real and personal estate and chattels. Section 87 provides that in the cases specified therein the Public Trustee may apply to a Judge of the Supreme Court to exercise in respect of unclaimed property certain powers of management and administration. By section 41 of the Amendment Act, 1921, these powers may be exercised by the Public Trustee without the necessity of a Court order, provided that the value of the property to be dealt with does not exceed £1,000. The assistance of the Public Trustee under this Part of the Act is frequently invoked where persons who are missing (and it is not known whether they are alive or dead) have property requiring protection and administration. TRUSTEE FOR DEBENTURE-HOLDERS. 72. In connection with the raising of moneys by way of loan for public purposes, and issue of debentures by Town Boards, County Councils, Fire Boards, Electric-power Boards, and other local bodies, the Public Trustee's services are frequently availed of to act as trustee for the debenture-holders. For the purpose of more effectually securing the debenture-holders a deed of trust is drawn up providing that in the event of default the trustee shall take the necessary action to safeguard the debenture-holders. Until default is. made no action is necessary on the part of the trustee. In addition, the local body nominates the Public Trustee to be its attorney irrevocably, if the security constituted by the deed becomes enforceable, to get in and recover and receive all revenue, income, and