1066
THE NEW ZEALAND GAZETTE.
[No. 29

And whereas application has been made to His Excellency the Governor-General to authorize the holding of the said exhibition, and to declare the same to be an exhibition within the meaning of the Exhibitions Act, 1910.

Now, therefore, in pursuance and exercise of the powers and authorities vested in him by the Exhibitions Act, 1910, 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 authorize the holding of the said proposed exhibition under the name of the “Dominion Industrial Exhibition, 1924,” to commence on the tenth day of June, one thousand nine hundred and twenty-four, and to extend up to and including the twenty-eighth day of June, one thousand nine hundred and twenty-four; and His Excellency the Governor-General doth declare the said exhibition to be an exhibition within the meaning of the Exhibition Act, 1910.

And in further pursuance of the powers and authorities vested in him as aforesaid, His Excellency the Governor-General doth hereby set apart temporarily the area with the buildings thereon described in the Schedule hereto (the consent of the Auckland Harbour Board having been obtained already) for the purpose of such exhibition.

And His Excellency the Governor-General doth hereby appoint

Allum, John Andrew Charles,
Brown, Henry,
Finn, George,
Hamlin, Selwyn,
Kalaugher, James Patrick,
Luxford, Samuel Watkin,
Massey, Walter William,
MacKenzie, Hugh Ross,
McLennan, Ewen Donald,
Parker, Albert William,
Spragg, Charles Robert, and
Wright, Robert,

all of Auckland, to be Exhibition Commissioners, under the style of the “Dominion Industrial Exhibition (1924) Commissioners,” for the said purpose of the said exhibition; and doth hereby appoint the said J. A. C. Allum to be President of such Commissioners; and doth hereby direct that the said Commissioners shall have control of the said area and buildings hereby set apart so long as and so far as may be necessary for the purposes of the said exhibition.

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SCHEDULE.

ALL that area with the buildings thereon, situated on Prince’s Wharf, Auckland Harbour, known as sheds No. 19 and 20, the property of the Auckland Harbour Board.

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

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Government Railways Superannuation Fund.—Regulations under Finance Act, 1923.

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JELLICOE, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 17th day of April, 1924.

Present:

THE RIGHT HONOURABLE W. F. MASSEY, P.C., PRESIDING IN COUNCIL.

IN pursuance and exercise of the power and authority conferred upon him by subsection one of section four of the Government Railways Amendment Act, 1911, as amended by section eighteen of the Finance Act, 1923, 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 make the following regulations.

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REGULATIONS.

1. In these regulations, if not inconsistent with the context,—
   “The Board” means the Government Railways Superannuation Fund Board:
   “Common Fund” means the Common Fund mentioned in section thirty-two of the Public Trust Office Act, 1908:
   “The fund” means the Government Railways Superannuation Fund.”

2. (a.) All moneys belonging to the fund shall as from the 1st April, 1924, be invested by the Public Trustee as hereinafter provided.
   (b.) The Public Trustee shall cause to be kept in respect of the fund a Government Railways Superannuation Fund Investment Account and a Government Railways Superannuation Fund Current Account (hereinafter referred to as the “investment account” and the “current account” respectively).
   (c.) Moneys received by the Public Trustee on behalf of the fund shall be credited to the investment account or to the current account as may be agreed upon from time to time between the Board and the Public Trustee.
   (d.) Until such time as they are transferred to the investment account moneys credited to the current account shall be deemed to form part of the Common Fund, and shall be credited with interest at the rate of 3 per cent. on the minimum monthly credit balance, or at such other rate as may be agreed upon between the Board and the Public Trustee.
   (e.) On the 30th September and 31st March of each year the surplus in the current account available for investment shall be transferred to the investment account, and from those dates the amounts so transferred shall cease to form part of the Common Fund.
   (f.) In respect of moneys credited to the investment account the Public Trustee shall, as from the first day of the month following the crediting of such moneys, allocate to the amount of such moneys then in hand securities held by him on behalf of the Common Fund, and available for the purpose at the rate of interest prevailing at that time in respect of Common Fund investments. Until such allocation no interest shall be payable by the Public Trustee in respect of moneys in his hands belonging to such fund to the credit of the investment account.
   (g.) Where the moneys of the Common Fund have during that financial year been invested in different classes of securities bearing varying rates of interest, allocation for the purpose of paragraph (f) hereof shall be pro rata amongst such securities.
   (h.) For his services in and about the collection of interest or otherwise in respect of such securities the Public Trustee shall be entitled to charge and deduct from such interest a fee at the rate of £2 10s. per cent. per annum or at such other rate as may be mutually agreed upon between the Board and the Public Trustee, and in addition shall be entitled to charge and deduct the cost of any legal services rendered by any solicitor (including the solicitor of the Public Trust Office) instructed by the Public Trustee in connection with the collection of interest or principal, or in the protection of the security, or otherwise howsoever in connection with any such securities.

3. In respect of the moneys of the fund invested prior to the 1st day of April, 1924, the following provisions shall apply:—
   (a.) On that date the Public Trustee shall transfer to the credit of the current account such amount as may be agreed upon between the Public Trustee and the Board, and the balance of such moneys shall on that date be transferred to the investment account..
   (b.) In respect of the moneys transferred to the investment account the Public Trustee shall on that date allocate from the existing investments of the Common Fund such securities as may be mutually agreed upon by the Board and the Public Trustee, and the securities so allocated shall on and after that date be deemed to be held in respect of investments of money belonging to the fund, and all moneys thereafter payable by way of interest on such securities or for the redemption thereof, or otherwise in respect thereof, shall form part of the fund, and shall be dealt with by the Public Trustee as prescribed in clause 2 hereof.
   (c.) The securities so to be taken over shall be selected so that a due proportion of the investments at each separate rate of interest in the Common Fund shall be taken over.
   (d.) The Public Trustee’s remuneration for his services in respect of these investments shall be regulated by paragraph (h) of clause 2 hereof.

4. Particulars of any securities allocated under the provisions of clauses 1, 2, and 3 hereof shall be furnished from time to time by the Public Trustee to the Secretary of the Board, and thereafter such securities shall be held by the Public Trustee on behalf of and at the risk of the said Board.

5. Any premium interest received by the Public Trustee as consideration for the acceptance, on behalf of the fund, of the repayment, in whole or in part, of the principal sum secured by a mortgage deed or by other document of security, at a date other than the maturity date fixed by such deed or other document, which principal is re-invested, in pursuance of these regulations, before the expiry of the period represented by the premium interest so received, shall be apportioned on the following basis:—
   (a.) Of the premium interest received in respect of the repayment of an investment the fund shall be