1276
THE NEW ZEALAND GAZETTE.
[No. 48

(b.) In debentures issued by any local authority in New Zealand (being the Council, Board, or other governing authority of a city, borough, county, town district, road district, drainage district, harbour district, or river district) under any law now or hereafter in force, secured upon general or special rates, or upon real estate held in fee-simple free from encumbrances, or upon the rents and profits of real estate held in fee-simple free from encumbrances:

Provided that no greater advance shall be made where the debentures are secured upon real estate than three-fifths of the value of such real estate; and if the debentures are secured upon rents and profits, then no advances shall be made unless such rents and profits are sufficient to pay two-thirds more than the annual interest payable in respect of the advance:

(c.) In advances by way of mortgage on the security of any real estate held in fee-simple in New Zealand or in Western Samoa and free from encumbrances, to an amount not exceeding three-fifths of the estimated value of such estate, according to a valuation approved by the Investment Board:

(d.) In fixed deposits in any bank of issue created or established by or under any Act of the General Assembly of New Zealand or by Royal Charter, and carrying on business in New Zealand or in Samoa, or in the Post Office Savings-bank or other savings-banks established in New Zealand or in Samoa in accordance with any law affecting such banks:

(e.) In the Common Fund of the Public Trust Office of New Zealand:

Provided, however, that a power or direction to invest money in some only of the foregoing classes of security, with or without a power or direction to invest in securities not included in any of the foregoing classes, shall not be deemed to be an express prohibition within the meaning of the foregoing provisions, and such money shall form part of the Common Fund of the Samoan Public Trust Office unless expressly directed to the contrary.

17. If the Common Fund is insufficient to meet the lawful claims thereon, the Treasurer of Western Samoa shall, on the direction in writing of the Administrator, pay such sums out of the Samoan Treasury as may be necessary to meet the deficiency.

18. Moneys in or payable into the Public Trustee’s Account by the Public Trustee, the Deputy Public Trustee, or any other officer, servant, or person acting or purporting to act under the authority of this Order shall be deemed to be property of His Majesty for the purposes of this Order, and shall be recoverable in like manner as money due to the Crown is recoverable.

19. Subject to this Order, and subject to any Ordinance which may make different provisions, the Acts specified in the Schedule hereto and to the extent therein set forth shall as far as applicable be in force in Samoa as fully and effectively as if such provisions had been recited and set out herein: Provided that in the application of the provisions of the said Acts to Samoa—

(a.) Every reference therein to the Supreme Court, Chief Justice, or Judge shall be read as a reference to the High Court of Samoa and the Chief Judge or a Judge thereof respectively, and every reference therein to the Court of Appeal shall be read as a reference to the Supreme Court of New Zealand.

(b.) Every reference to Wellington and New Zealand shall be read as a reference to Apia and Western Samoa respectively.

(c.) Every reference to the Gazette shall be read as a reference to the Western Samoa Gazette.