An Act to vest certain land in the public board of works for New Providence and for other purposes.

1. This land may be cited as the New Colonial Hotel Vesting of Land Act.

2. The land referred to in a conveyance thereof dated the thirteenth day of July A.D. 1922 made between the Florida East Coast Hotel Company, a corporation organized and existing under and by virtue of the Laws of the State of Florida, one of the United States of America, which corporation is authorised to acquire, hold and dispose of lands within the Bahama Islands in its corporate name, by an Act of the Legislature of the said Bahama Islands known as The Florida East Coast Hotel Company Act, party of the first part, and theColonial Secretary of the Bahama Islands acting for and on behalf of the Government of the said Islands, party of the second part, and now of record in the Registry of Records of the Bahama Islands in Book S 11 at page 183 et sequitur shall be deemed to have been vested in the Public Board of Works for New Providence in fee simple in trust for the public service of The Bahamas subject to the disposition of the Legislature as and from the date of such conveyance.

3. The said land (except that portion thereof known as the "Navy Lion" and except so much of the said land as has been used for the purpose of widening Marlborough Street in accordance with the terms of the Act 13 and 14 George the Fifth chapter 15) and also so much of Fleming Street and Bay Street and the piece of land known as McPherson's Square as taken together shall be equivalent in area to the land ceded by Bahamas Hotel Company, Limited, for the purpose of widening Marlborough Street and added to the site of the New Colonial Hotel in accordance with the said Act and also the remainder of the piece of land known as McPherson's Square shall be deemed to be leased to Bahamas Hotel Company, Limited, in accordance with the terms and conditions of the Schedule to the Act 13 and 14 George the Fifth chapter 1 [i]* and the Fourth Schedule to the Act 13 and 14 George the Fifth chapter 15, subject to the express conditions that the said leasehold property shall be mortgaged to secure the repayment of all sums of money (together with interest thereon) advanced to Bahamas Hotel Company, Limited, out of the Treasury in accordance with the terms of the Acts 13 and 14 George the Fifth chapter 1, and 13 and 14 George the Fifth chapter 2, such mortgage to be given to the Treasurer acting for and on behalf of The Bahamas, who and whose office for the purposes of this Act shall be deemed to be a corporation sole.

4. This Act shall be deemed to have been in force as and from the first day of January, 1923.