910
THE NEW ZEALAND GAZETTE.
[No. 44

Authorizing Kaihu Valley Railway Company to issue Debentures for £47,000.

WM. F. DRUMMOND JERVOIS,
Governor.

ORDER IN COUNCIL.

At the Government Buildings, at Wellington, this thirtieth day of March, 1887.

Present:

THE HONOURABLE THE MINISTER FOR PUBLIC WORKS PRESIDING IN COUNCIL.

WHEREAS by “The District Railways Purchasing Act, 1885,” it is, among other things, enacted that, on receiving from the company-owner of the Kaihu Valley Railway such security as he shall think sufficient to insure repayment, the Governor, by Order in Council, may authorize the said company to issue debentures for any amount not exceeding fifty thousand pounds, to be applied towards the continuation and completion of the said railway. The said debentures shall be secured by first mortgage on the railway and other works, to cost between eighty-five and ninety thousand pounds, with such other security, if any, as the Governor in Council may consider necessary. All such debentures shall be issued in such form, and be subject to such conditions and other provisions, as the Governor in Council shall prescribe, but the currency of the debentures shall not exceed fifteen years, and shall, to any amount not exceeding the aforesaid sum of fifty thousand pounds, be deemed to be guaranteed under this Act, together with interest thereon, until paid, at any rate not exceeding five pounds per cent. per annum. All such debentures shall, both as to principal and interest, be made payable in New Zealand: And whereas on the thirty-first day of January last the Kaihu Valley Railway Company, Limited (hereinafter referred to as “the company”), being such owner as aforesaid, has made and executed to Her Majesty the Queen a certain deed of mortgage on and over the railway and other works and property of the company, in the said deed mentioned, for the purpose of securing the payment of debentures to be issued by the company to an amount of forty-seven thousand pounds, and which are guaranteed by the Government of New Zealand, as in the said deed particularly set forth: And whereas the Governor in Council, being satisfied that the security afforded by the said deed is sufficient for the purposes of the said Act, has agreed to make and issue this Order in Council for the purpose of giving effect to said Act:

Now, therefore, His Excellency the Governor of the Colony of New Zealand, in pursuance and exercise of the power and authority vested in him by the said Act, and by and with the advice and consent of the Executive Council of the said colony, doth hereby authorize the company to make and issue debentures for the total amount of forty-seven thousand pounds, the proceeds of which are to be applied in the construction and completion by the company of the railway mentioned in the said deed of mortgage, and upon and subject to the conditions and other provisions, and in the form hereinafter set forth, that is to say,—

1. Each debenture shall be for a sum not less than one hundred pounds, nor more than one thousand pounds, and shall bear interest at the rate of five pounds per cent. per annum, and be payable to bearer.

2. Each debenture shall have a currency of twelve years, dating from the first day of April, one thousand eight hundred and eighty-seven, and the principal shall be payable the first day of April, one thousand eight hundred and ninety-nine.

3. Interest at the rate aforesaid shall be payable half-yearly, on the first day of April and the first day of October in each year during the currency of the debentures, the first half-year’s interest being payable on the first day of October next.

4. Each debenture shall be numbered consecutively, so that no two debentures shall have the same number.

5. The company shall make and duly keep at its registered office a register of all debentures issued by it under these conditions, and shall from time to time make and forward to the Colonial Treasurer for the time being a true copy of or extract from such register on being requested by him.

6. Each debenture shall, as to principal and interest, be payable at the registered office of the company at Auckland, or, if the Government of New Zealand shall be called upon to pay any such debenture or the interest thereon under the guarantee granted by the said Act, such debenture or coupon, as the case may be, shall be presented at the Treasury, at Wellington, or, at the option of the Colonial Treasurer for the time being, may be paid at or through any bank at Auckland, in New Zealand.

7. The receipt of the bearer shall be an effectual discharge for the principal money or interest payable thereunder, and the company or the Government of New Zealand paying such money shall not be bound to inquire into the title of the bearer, or to take notice of any trust affecting such money, or be affected by express notice of any equity which may be then subsisting in relation to the title of the bearer, or to the instrument presented for payment, or to the money secured.

8. Each debenture shall be in the following form, or to the effect thereof, with coupons attached thereto, and the due payment thereof and the interest thereon shall be deemed to be guaranteed by the General Government of New Zealand, and every debenture when issued to the company shall be registered at the Treasury, at Wellington.

FORM OF DEBENTURE.

No. . Debenture for £ .
Payable at , on , 18 .
Issued by the Kaihu Valley Railway Company, Limited, in accordance with an Order in Council made by the Governor of New Zealand under section twenty-five of “The District Railways Purchasing Act, 1885.”

On presentation of this debenture at the registered office of the company, at , on or after the day of , one thousand eight hundred and ninety-nine, the bearer thereof will be entitled to receive £ . Interest on this debenture will cease after the day when the payment falls due, unless default is made in payment.

In cases of default in payment by the company of this debenture, or any coupon attached thereto, payment thereof respectively is guaranteed by the Government of New Zealand, and will be paid on presentation and delivery thereof at the Treasury, at Wellington, or, at the option of the Colonial Treasurer for the time being, at any bank in Auckland to be appointed by him from time to time.

Payment to the holder for the time being, whether of debentures or coupon, will discharge the company or the Government from all liability in respect of such debenture or coupon as in the said Order in Council prescribed.

Issued under the common seal of the Kaihu Valley Railway Company, Limited, the day of , one thousand eight hundred and eighty-seven.

(L.S.) A.B.,} Two Directors of the
C.D.,} said company.

Countersigned.

E.F.,
Secretary of company.

Registered in the Treasury.

G.H.,
Secretary to the Treasury.

FORM OF COUPON.

The Kaihu Valley Railway Company, Limited. Guaranteed under “The District Railways Purchasing Act, 1885.”

Debenture No. . £ .

WARRANT for £ , being one half-year’s interest, due the day of , 18 .

Payable at the registered office of the company, at , or, in case of default, at the Treasury, Wellington, or such bank at Auckland as the Colonial Treasurer for the time being may appoint from time to time.

FORSTER GORING,
Clerk of the Executive Council.

Fixing Shooting Season for Imported Game, License Fee, &c., Grey District.

WM. F. DRUMMOND JERVOIS,
Governor.

IN exercise of the powers vested in me by “The Animals Protection Act, 1880,” and the Acts amending the same, I, William Francis Drummond Jervois, the Governor of the Colony of New Zealand, do hereby notify that cock-pheasants and quail may be taken or killed within the Grey District, consisting of the County of Grey, from the first day of July, one thousand eight hundred and eighty-seven, to the thirty-first day of July, one thousand eight hundred and eighty-seven, both inclusive (subject nevertheless to the restrictions in the said Acts mentioned). And I do further notify that licenses to take or kill such game within the said district shall be issued on payment of the sum of twenty shillings each, and that licenses to sell such game shall be issued on payment of the sum of five pounds each; and the Chief Postmaster at Greymouth is hereby appointed to issue and sign the said licenses. And I do further notify that native game (excepting tuis) may be taken or killed within the said district, excepting in the Borough of Greymouth, from the first day of July, one thousand eight hundred and eighty-seven, to the thirty-first day of July, one thousand eight hundred and eighty-seven, both inclusive.

As witness the hand of His Excellency the Governor, this fifth day of July, one thousand eight hundred and eighty-seven.

P. A. BUCKLEY,