402
THE NEW ZEALAND GAZETTE.

SCHEDULE.
I do sincerely promise and swear that I will be
faithful and bear true allegiance to Her Majesty
Queen Victoria as lawful Sovereign of the United
Kingdom of Great Britain and Ireland and of this
Colony of New Zealand. So help me God.

Colonial Secretary's Office,
Wellington, 26th October, 1866.
THE following Act passed by the Imperial Parlia-
ment is published for general information.
E. W. STAFFORD.

CAP. CVI.
An Act to authorize Loans in aid of the construction
of Docks in British Possessions. [5th July, 1865.]

WHEREAS with a view to secure accommodation for
vessels of the Royal Navy in British Possessions
abroad it is expedient to authorize loans in aid of
the formation there of docks of dimensions greater
than would be requisite for commercial or other
private purposes only:

Be it therefore enacted by the Queen's most
Excellent Majesty, by and with the advice and
consent of the Lords Spiritual and Temporal, and
Commons, in this present Parliament assembled, and
by the authority of the same, as follows:

Short Title.

1. This Act may be cited as "The Colonial Docks
   Loans Act, 1865."

Interpretation of Terms.
2. In this Act—
The term "the Admiralty" means the Lord High
Admiral of the United Kingdom or the
Commissioners for executing the office of
Lord High Admiral:
The term "Dock" includes basin or other work
for the reception of vessels:
The term "Colony" includes any Plantation,
Island, or other Possession within Her
Majesty's Dominions, exclusive of the United
Kingdom and its immediate Dependencies,
and exclusive of India as defined by the Act
of Parliament of 1858 "for the better
Government of India:
The term "person" includes any authority, and
any body, corporate or unincorporate.

Issue of £300,000 to account of Admiralty.
3. For the purposes of loans under this Act, the
Commissioners of Her Majesty's Treasury may from
time to time, by warrant under the hands of any
two or more of them, cause to be issued out of the
Consolidated Fund of the United Kingdom or the
growing produce thereof, to the account of the
Admiralty, any sums of money not exceeding in
the whole the sum of three hundred thousand pounds.

Admiralty Account at Bank of England.
4. The Governor and Company of the Bank of
England shall open in their books an account with
the Admiralty under the title of "The Lord High
Admiral or Commissioners of the Admiralty for the
time being on account of Colonial Docks."

Sums to be carried thereto.
5. All money from to time issued under this Act
out of the Consolidated Fund shall be carried to the
credit of the said account.

Loans for Docks to be out of money issued.
6. Out of the money for the time being standing
to the credit of the said account, the Admiralty may
from time to time, if and as it seems fit, with the
previous approval in each instance of the Commis-
sioners of Her Majesty's Treasury, lend such sums of
money as may be required to any person forming or
enlarging any dock in any Colony, and being willing
to make the same of dimensions sufficient to meet
the requirements of Her Majesty's Naval Service, on
such terms and conditions as may be agreed on
between the Admiralty and the borrower, subject
nevertheless and according to the following
provisions:
(1.) The money lent shall not exceed the sum of
twenty thousand pounds, nor shall it exceed
the estimated cost of increasing the dimen-
sions of the dock beyond those required for
commercial or other private purposes:
(2.) The amount agreed to be lent shall be made
payable by instalments as the works connected
with the formation or enlargement of the
dock progress:
(3.) The money lent shall bear interest at not
less than four pounds per centum per annum.
(4.) All and every part of the money lent shall
be made repayable by instalments within a
period not exceeding twenty-one years from
the respective dates of the payments on
account of the loan:
(5.) The borrower shall give security to the
satisfaction of the Admiralty and of the
Commissioners of Her Majesty's Treasury, by
mortgage of the dock where practicable, or
otherwise, for payment of interest and repay-
ment of principal.

Loan not restricted as to powers of borrower.
7. By virtue of this Act, any loan may be made,
and any security may be given, by way of mortgage
or otherwise, on any dues, rates, tolls, revenues, or
property of the borrower, notwithstanding the absence
of any power in the borrower so to borrow or give
security except by virtue of this Act, and notwith-
standing any limitation of the amount authorized to
be raised under any borrowing power.

Priority of mortgages under this Act.
8. Every mortgage or other security in respect of
a loan under this Act shall have priority to all other
securities and charges whatever on or affecting the
mortgage or other security, except to a security
or charge of prior date and execution, securing
money actually lent before the date of the agreement
for the loan under this Act.

Style of Admiralty in Deeds, &c.
9. In any agreement, deed or instrument, made or
executed under this Act, the Admiralty may be styled
"The Lord High Admiral of the United Kingdom, or
the Commissioners for executing the office "of Lord
High Admiral," without any name being expressed.

Signature of Deeds, &c.
10. Any such agreement, deed or instrument,
signed or executed by two of the Commissioners of
the Admiralty shall be as valid and effectual as if
signed or executed by the Commissioners for the time
being.

Mortgaged Property to vest in Admiralty, &c.
11. All the estate, interest, rights and powers of
the Admiralty, under any mortgage or other security
in respect of a loan under this Act, shall by virtue
of this Act go to and vest in the Lord High Admiral
or Commissioners of the Admiralty for the time
being in succession.

Payment of interest and repayment of principal.
12. All interest from time to time payable, and all
principal money from time to time repayable, in
respect of any loan under this Act, shall be paid,
under the direction of the Admiralty, to the cashiers
of the Governor and Company of the Bank of
England, and when so paid shall be carried to the
credit of the account kept by them with Her
Majesty's Exchequer.