✨ Legislation Text
172
NEW ZEALAND COLONIAL BANK OF
ISSUE WINDING UP ACT, 1856.
IN THE TWENTIETH YEAR OF THE REIGN OF HER MAJESTY QUEEN
VICTORIA.
SESSION 4, No 13.
ANALYSIS.
Title.
Preamble.
-
Governor to wind up the affairs of the
Bank. -
May contract with any Banking Company
to wind up affairs.
3. Governor may make investment in Colon-
ial or other Government Securities.
4. Short Title.
Title. AN ACT for enabling the affairs of the Colonial Bank of Issue to be wound up.
(Assented to 29th July, 1856.)
Preamble.
WHEREAS, it is expedient to enable the Governor of the
Colony to wind up and close the affairs of the Colonial
Bank of Issue ;
BE IT ENACTED by the General Assembly as follows:
- It shall be lawful for the Governor of the Colony, at such
time and in such manner as may be deemed convenient after
the passing of this Act, to wind up, close, and settle the affairs
of the Colonial Bank of Issue; and for that purpose, when and
as may be deemed expedient, to call in all outstanding Notes of
the said Bank, and pay the same without any power of reissuing
the same. And to sell and dispose of, call in and convert into
money all Parliamentary and Public Stocks or Funds, and all
property whatsoever held on account of the said Colonial Bank
of Issue, and to apply the proceeds thereof towards satisfying
the liabilities of the said Colonial Bank of Issue. And as to the
surplus, if any, of such proceeds to apply the same in such man-
ner as shall be directed by any Act of the General Assembly.
And to make good any deficiency of such proceeds out of the
General Revenue of New Zealand.
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NZ Gazette 1856, No 26
✨ LLM interpretation of page content
🏛️ Text of the New Zealand Colonial Bank of Issue Winding Up Act, 1856.
🏛️ Governance & Central Administration29 July 1856
Legislation, Winding Up, Colonial Bank of Issue, Governor, General Assembly