Port Louis-Philippe (Akaroa) was named as the site of the settlement proposed in this agreement, in terms of which the Government undertook to make available to the Company the 550-ton storeship "Mahé", renamed "Comte de Paris", to provide 17 months rations for 80 men; to consider the properties of the French colonists as French properties and the colonists themselves as French subjects, and to treat the produce of their crops as if they were of French origin. To protect the colonists, a warship would be sent out in advance of the emigrant ship, and its commander would exercise the powers of "Commissaire du Roi". The ports of the settlement were to be free to French ships for a term of 15 years. One-fourth of all the lands acquired were to be reserved to the Crown for the building of ports, hospitals and shipyards. The functions of the company as finally announced on 5 February 1840, were to buy land in New Zealand, to colonise the lands already bought in 1838 by Langlois, and to engage in the whale fishery.