Dec. 7.] THE NEW ZEALAND GAZETTE. 3247

accordance with this Order in the same way as they apply with respect to securities
converted under that Act, save that the references in the said section twenty-two to the
first day of April, one thousand nine hundred and thirty-three, shall be construed as
references to the day following the date of conversion.

BROKERAGE.

21. The local authority shall not, in respect of the conversion into new securities
    of any existing securities to which this Order applies, enter into any contract for the
    payment of brokerage at a rate exceeding one-quarter per centum of the amount of such
    existing securities.

FIRST SCHEDULE.

LOAN TO BE CONVERTED.

SECOND SCHEDULE.

FORMS.

(1) Notice.

[Name of local authority.]

CONVERSION under the Local Authorities Interest Reduction and Loans Conversion Act,
1932–33, and the Loans Conversion Order, 19 , of debentures or other securities
issued in respect of the following loans [Particulars of loans].

Notice is hereby given to the holders of debentures or other securities issued by the
[Name of local authority] in respect of the above-mentioned loans that it is intended to
convert all such debentures or other securities (except those in respect of which dissent
is duly signified) into new debentures having new maturity dates and bearing interest
at 4¼ per cent. per annum.

The conversion will take effect from [Date of conversion].

Application for conversion must be made in writing and be accompanied by the
securities to which it relates.

Dissent from the conversion of any existing debentures or other securities may be
signified by the holder only by notice in writing delivered to [Name or designation and
address of at least one person authorized to receive dissents] on or before the day
of , 19 .

If notice of dissent from the conversion of any debentures or other securities is not
received by that date the securities will be converted.

The rate of interest on any debentures or other securities in respect of which dissent
is signified as aforesaid will, by virtue of section 18 of the above-mentioned Act, be
reduced to two-thirds of the original rate as from the [Date of conversion].

Further particulars as to the new debentures and the conversion generally may be
obtained from [Name or designation and address of at least one person authorized to give
particulars].

Dated the day of , 19 . , Chairman.

(2) New Debenture.

No. . [Name of local authority], New Zealand.

New debenture, issued pursuant to Part II of the Local Authorities Interest Reduction and Loans Conversion Act, 1932–33, and the Loans Conversion Order, 19 .

New debenture for £ , payable at , in New Zealand, on the
day of , 19 , issued by the [Name of local authority], New Zealand, under the
above-mentioned Act and Order pursuant to a resolution passed and confirmed by the
Council [or Board, as the case may be] as provided by section 9 (2) of the said Act.

(N.B.—The holder of this debenture has no claim in respect thereof upon the
Government or public revenues of New Zealand.)

On presentation of this debenture at , in New Zealand, on or after the
day of , 19 , the bearer thereof will be entitled to receive £ .

Issued under the common seal of , the day of , 19 .

A.B., Chairman.

[L.S.] C.D., Treasurer [or other officer appointed for the purpose].

(3) Resolution making Special Rate.

In pursuance and exercise of the powers vested in it in that behalf by Part II of the
Local Authorities Interest Reduction and Loans Conversion Act, 1932–33, and the
Loans Conversion Order, 19 , the [Name of local authority] hereby resolves
as follows:—

That, for the purpose of providing the half-yearly instalments of principal and
interest in respect of the new securities authorized to be issued by the [Name of local
authority] under the above-mentioned Act and Order in conversion of existing securities
issued in respect of the following loans [State particulars of loans], and also the interest
and other charges on the unconverted securities issued in respect of such loans, the said
[Name of local authority] hereby makes and levies a special rate of [State amount in the
pound] upon the rateable value of all rateable property of the [District], and that such
special rate shall be an annually recurring rate during the currency of such securities,
and be payable half-yearly on the day of and the day of
[or yearly on the day of ] in each and every year until the last maturity
date of such securities, being the day of , 19 , or until all such securities
are fully paid off.

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

(T. 49/543/1.)