15. DEFAULT.

If the licensees fail or neglect to observe any of the conditions or obligations imposed by this license, then and in any such case the provisions of clauses 229 and 230 of the Electrical Supply Regulations, 1927, shall apply to the breach of any such condition or obligation.

16. ALTERATIONS TO WORKS.

In the event of the licensees at any time desiring to make alterations to the works involving a departure from the location or type of construction shown on the approved plans, they shall first submit for the Minister's approval plans showing such new location and [or] type of construction as it is proposed to adopt, and, with such approval, the alterations may be carried out.

17. INSPECTION OF WORKS.

The Inspecting Engineer of the Public Works Department or any other person empowered in that behalf by the Minister shall at all times, both during and after the construction of the works, have free access to and liberty to inspect such works in order to ensure that the provisions of this license are given due effect to.

18. CONTRACT BETWEEN LICENSEE AND CROWN.

This license shall be deemed to constitute a contract as between the licensees and His Majesty the King, and may be enforced by and against either party accordingly.

19. REQUIREMENTS OF HURUNUI ELECTRIC-POWER BOARD AND THE AMURI COUNTY COUNCIL.

Notwithstanding anything hereinbefore contained, the licensees shall not by virtue of these presents be entitled to lay, construct, put up, place, or use the electric lines hereby authorized, except subject to such conditions (not inconsistent with the provisions of this license or of the regulations) as may from time to time be imposed by the Hurunui Electric-power Board and the Amuri County Council.

20. RAILWAYS AND TELEGRAPH DEPARTMENTS' LINES.

The licensees shall rectify to the satisfaction of the Government Railways Board or the Minister of Telegraphs, as the case may be, any interference or disturbance caused by the erection or operation of the licensees' system that affects the satisfactory working of telegraph-lines which are the property of the Railways Department or the Telegraph Department, and which were erected prior to the licensees' lines.

21. TIME FOR SUBSTANTIAL COMPLETION OF WORKS.

The licensees shall substantially complete the works hereby authorized within a period of one year from the date of this license, or within such further time as the Minister may allow in the event of the work being delayed by strikes, lockouts, breakdowns, or other unavoidable causes not due to any neglect by the licensees.

22. PURCHASE OF INSTALLATION BY ELECTRIC-POWER BOARD OR CROWN.

Subject to the provisions of the Electric-power Boards Act, 1925, or any Act passed in amendment thereof or in substitution therefor, any Electric-power Board whose district or outer area shall include the area within which are erected the lines described in clause 4 hereof, or the Crown, shall have the right, at any time during the currency of this license, to purchase and take over the licensees' installation at a valuation to be agreed upon between the said Board or the Crown, as the case may be, and the licensees; and, failing such agreement, at a valuation to be fixed by a single arbitrator to be appointed pursuant to the provisions of the Arbitration Act, 1908, and thereupon the Governor-General may by Order in Council revoke this license.

F. D. THOMSON,

Clerk of the Executive Council.

(P.W. 26/1793.)

Order in Council consenting to the raising of Loans by certain Local Authorities, and prescribing Terms and Rates of Interest.

BLEDISLOE, Governor-General.

ORDER IN COUNCIL.

At the Government Buildings at Wellington, this 10th day of July, 1933.

Present:

THE RIGHT HON. J. G. COATES PRESIDING IN COUNCIL.

WHEREAS the several local authorities mentioned in the Schedule hereto are desirous of raising the respective amounts set out opposite their names therein:

And whereas the said local authorities have complied with the provisions of the Local Government Loans Board Act, 1926, (hereinafter called "the said Act"), and it is expedient that the precedent consent of the Governor-General in Council under the said Act should be given to the raising of the loans on the terms and conditions hereinafter set forth:

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, and in pursuance and exercise of the powers and authorities conferred on him by section eleven of the said Act (as set out in section twenty-nine of the Finance Act, 1932 (No. 2)), and of all other powers and authorities enabling him in this behalf, doth hereby consent to the raising by the respective local authorities whose names are set out in the Second Column of the said Schedule of the loans referred to in the Third Column of the said Schedule, up to the respective amounts set out in the Fourth Column of the said Schedule, for the respective terms set out in the Fifth Column of the said Schedule, at rates of interest being such as shall not produce to the lenders rates exceeding the respective rates specified in the Sixth Column of the said Schedule, subject to the condition that the respective local authorities shall, before borrowing the said respective sums, or any parts thereof, make provision for the repayment thereof by establishing a sinking fund under the Local Bodies' Loans Act, 1926, or under such other statutory enactment as may be applicable in any respective case, and shall thereafter make to such sinking fund payments at intervals of not more than one year at a rate or rates which shall be not less than the respective rates per centum set out in the Seventh Column of the said Schedule, such payments to be made in respect of every part of the said respective sums for the time being so borrowed and not repaid, and the first payment to be made not later than one year after the first day from which interest to the lender is computed on any moneys so borrowed, and subject to the further conditions that in no case shall any portion of interest or sinking fund be paid out of loan-moneys, and that the respective local authorities shall not enter into any contracts for payment of brokerage at any rate exceeding one-half per centum on any sum borrowed pursuant to this consent.

SCHEDULE.

(T. 49/416/6.)

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