SEPT. 14.] THE NEW ZEALAND GAZETTE. 2441

SCHEDULE.

1. In these conditions the term “ Minister ” means the Minister of Marine as defined by the Shipping and Seamen Act, 1908, and includes any officer, person, or authority acting by or under the direction of such Minister.

2. The concessions and privileges conferred by this Order in Council shall extend and apply only to the part of the land below low-water mark necessary for the purposes hereinbefore mentioned, as shown within red lines in the plan marked M.D. 5494, and deposited in the office of the Marine Department as aforesaid.

3. In consideration of the concessions and privileges granted by this Order in Council the licensees shall, on being supplied with a copy thereof, pay to the Minister the sum of £2 10s., and thereafter shall deposit annually the sum of £52, to be applied as hereinafter provided, payable on the 1st day of April in each year; provided that in respect of the period from the date of this Order in Council until the 31st day of March, 1923, the amount to be deposited shall be an amount proportionate to the said period at the rate of £52 per annum, to be deposited on the licensees being supplied with a copy of this Order in Council.

The royalty payable by the licensees in consideration of the concessions and privileges hereby granted shall be at the rate of 3d. per cubic yard on all shingle and sand taken. If in any year the licensees fail to remove any shingle or sand, the deposit hereinbefore referred to shall be appropriated by the Minister as flat rent in respect of that year; but if during any year the licensees remove any shingle or sand the said deposit shall, in proportion to the amount of shingle or sand so removed, be applied as royalty at the rate hereinbefore mentioned, but so that the minimum amount payable as combined royalty and flat rent in any one complete year shall be £52. All such payments shall be made to the Superintendent of Mercantile Marine at Auckland, or such other person as the Minister may direct; provided that after the 16th day of July, 1926, the Governor-General in Council may prescribe the royalty thereafter to be at such rate as he thinks reasonable.

4. His Majesty or the Governor-General, and all officers in the Government service acting in the execution of their duty, shall at all times have free ingress, passage, and egress into, through, and out of the aforesaid land without payment.

5. Nothing herein contained shall authorize the licensees to do or cause to be done anything repugnant to or inconsistent with any law relating to the Customs, or any regulation of the Minister of Customs, or with any provisions of the Harbours Act, 1908, or its amendments, or any regulations made thereunder, and that are now or may hereafter be in force.

6. The rights, powers, and privileges conferred by or under this Order in Council shall continue in force for the term of fourteen years, computed from the date hereof, unless in the meantime such rights, powers, and privileges are altered, modified, or revoked by competent authority; and the licensees shall not assign, charge, or part with any such right, power, or privilege without the previous written consent of the Minister first obtained.

7. The rights, powers, and privileges hereby granted and conferred may be at any time resumed by the Governor-General, without payment of any compensation whatsoever, on giving to the licensees three calendar months’ previous notice in writing. Such notice shall be sufficient if given by the Minister and delivered at or posted to the last known address of the licensees in New Zealand.

8. In case the licensees shall—

(1.) Commit or suffer a breach of the conditions hereinbefore set forth, or any of them, or any breach of the Fisheries Act, 1908, or its amendments;

(2.) Become bankrupt, or be brought under the operation of any law for the time being in force relating to bankruptcy; or

(3.) Fail to pay the sums specified in clause 3 of these conditions,—

then and in any such case this Order in Council, and every license, right, power, or privilege thereby conferred, may be revoked and determined by the Governor-General in Council without any notice to the licensees or other proceeding whatsoever; and publication in the New Zealand Gazette of an Order in Council containing such revocation shall be sufficient notice to the licensees, and to all persons concerned or interested, that this Order in Council, and the licensee, rights, and privileges thereby granted and conferred, have been revoked and determined.

9. Payment by the licensees of any of the sums hereinbefore mentioned shall be sufficient evidence of the acceptance by the licensees of the terms and conditions of this Order in Council.

F. D. THOMSON,
Clerk of the Executive Council.

Prescribing the Term for which the Te Awamutu Electric-power Board may raise a Loan of £12,000 for Electric-power Purposes, and also the Rate of Interest payable thereon.

JELLICOE, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 11th day of September, 1922.

Present:

His Excellency the Governor-General in Council.

WHEREAS section eleven of the Finance Act, 1921, as amended by section six of the Local Bodies’ Loans Amendment Act, 1921, provides that, notwithstanding anything to the contrary in any Act or in any rule of law, where a local authority or public body has been authorized before the passing of the said Act, or is thereafter authorized, to borrow money, whether pursuant to a poll of ratepayers or otherwise howsoever, whether the rate of interest or the term of years of the loan was or was not specified or determined, and such money or any part thereof has not been borrowed, the local authority may, with the precedent consent of the Minister of Finance, borrow such money, or such amount thereof as has not been borrowed, at such rate of interest, or for such term not less than ten years, as may be prescribed by the Governor-General by Order in Council:

And whereas the Te Awamutu Electric-power Board has been authorized to borrow the sum of one hundred and twenty thousand pounds for electric-power purposes for a term of thirty-six and a half years, and at a rate of interest not exceeding five and a half per centum per annum, and is now desirous of borrowing a supplementary loan of twelve thousand pounds under the authority of section eighteen of the Local Bodies’ Loans Act, 1913, for a reduced term and at an increased rate of interest:

And whereas the Minister of Finance has given his precedent consent as required by the above-recited section eleven, and it is desired that the term for which the said twelve thousand pounds may be borrowed be reduced to twenty years, and the rate of interest payable thereon be increased to not exceeding six per centum per annum:

Now, therefore, His Excellency the Governor-General of the Dominion of New Zealand, acting by and with the advice and consent of the Executive Council of the said Dominion, doth hereby prescribe that the term for which the Te Awamutu Electric-power Board may borrow the said sum of twelve thousand pounds be reduced to twenty years, and the rate of interest payable thereon be increased to a rate not exceeding six per centum per annum, and the Te Awamutu Electric-power Board is hereby authorized to borrow the said sum of twelve thousand pounds accordingly.

F. D. THOMSON,
Clerk of the Executive Council.

Prescribing the Rate of Interest that may be paid by the Dunedin City Council in respect of a Loan of £123,300, being Part of a Loan of £297,000 authorized to be raised for repaying its Antecedent Liability.

JELLICOE, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 11th day of September, 1922.

Present:

His Excellency the Governor-General in Council.

WHEREAS section eleven of the Finance Act, 1921, as amended by section six of the Local Bodies’ Loans Amendment Act, 1921, provides that, notwithstanding anything to the contrary in any Act or in any rule of law, where a local authority or public body has been authorized before the passing of the said Act, or is thereafter authorized, to borrow money, whether pursuant to a poll of ratepayers or otherwise howsoever, whether the rate of interest or the term of years of the loan was or was not specified or determined, and such money or any part thereof has not been borrowed, the local authority may, with the precedent consent of the Minister of Finance, borrow such money, or such amount thereof as has not been borrowed, at such rate of interest, or for such term not less than ten years, as may be prescribed by the Governor-General by Order in Council:

And whereas the Dunedin City Council has been authorized to borrow the sum of two hundred and ninety-seven thousand pounds for repaying its antecedent liability, and is now desirous of borrowing the sum of one hundred and twenty-three thousand three hundred pounds (being part of the two hundred and ninety-seven thousand pounds) at an increased rate of interest: