✨ Loan Conversion Order
3572
THE NEW ZEALAND GAZETTE.
[No. 83
(c) Thirdly, in transferring the balance to the Commissioners of the consolidated
sinking fund hereinbefore required to be created for the new securities, to
be held as part of that sinking fund.
- In addition to the sums payable or transferable to the Commissioners of the
Consolidated Sinking Fund pursuant to the foregoing provisions of this Order, there
shall, with the consent of all the holders of the securities at the date of conversion in
respect of which such sinking funds are held, be transferred and paid to the Commissioners
of such consolidated sinking fund by the Commissioners of the 1924 Loan first issue of
£50,000, maturing on 10th July, 1945, and 1924 Loan eleventh issue of £100,000,
maturing on 1st April, 1960, all sinking funds held by such Commissioners at the
date of conversion in respect of such loans.
SECURITIES HELD BY TRUSTEES.
- The provisions of sections twenty-two, twenty-three, and twenty-four of the
New Zealand Debt Conversion Act, 1932–33 (relating to the adjustment of premiums as
between capital and income and to the powers of trustees and other persons in relation
thereto), shall apply with respect to existing securities converted into new securities in
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.
- 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.
LOANS TO BE CONVERTED.
| Name. | Amount. | Rate of Interest. | Date of Maturity. |
|---|---|---|---|
| Original. | Existing. | ||
| £ | Per Cent. | Per Cent. | |
| 1908 Loan, 5th Issue (part) | 95,600 | 5 | 4½ |
| 1916 Loan, 1st Issue | 13,700 | 5½ | 4¾ |
| 1886 Loan (part) | 5,100 | 5 | 4¼ |
| 1916 Loan, 2nd Issue (part) | 135,800 | 5½ | 4¼ |
| 1908 Loan, 6th Issue (part) | 149,500 | 5¼ | 4¼ |
| 1919 Loan, 1st Issue (part) | 98,500 | 5½ | 4¾ |
| 1920 Loan | 60,000 | 5½ | 4¾ |
| 1919 Loan, 3rd, 4th, 5th, 6th, and part 7th Issues | 290,800 | 6 | 4⅝ |
| 1919 Loan, 8th Issue | 50,000 | 5½ | 4¾ |
| 1919 Loan, 9th Issue (part) | 700 | 5 | 4¼ |
| 1919 Loan, 10th Issue (part) | 700 | 5 | 4¼ |
| 1924 Loan, 2nd Issue | 50,000 | 5¾ | 4¾ |
| 1924 Loan, 3rd and 4th Issues | 100,000 | 5½ | 4¾ |
| 1924 Loan, 5th Issue | 50,000 | 5½ | 4¾ |
| 1924 Loan, 6th Issue | 50,000 | 5½ | 4¾ |
| 1924 Loan, 7th Issue | 50,000 | 5½ | 4¾ |
| 1924 Loan, 8th Issue | 50,000 | 5½ | 4¾ |
| 1932 Loan | 15,000 | 5¼ | 4¼ |
| 1924 Loan, 10th Issue | 50,000 | 5¼ | 4¼ |
| 1924 Loan, 12th and 13th Issues | 46,500 | 5½ | 4¾ |
| 1924 Loan, 14th Issue | 93,500 | 5¼ | 4¼ |
| Total | £1,455,400 |
NOTE.—Of the debentures issued in respect of the loans specified in the first column
of the above Schedule, this Order applies only to those to which the Local Authorities
Interest Reduction and Loans Conversion Act, 1932–33, applies. The approximate
amount of the debentures issued in respect of each such loan and to which that Act and
this Order so apply is stated in the second column of the Schedule, but if the holder of
any debenture issued in respect of any such loan is in doubt as to whether this Order
applies to any debenture so held by him he should communicate at once with the
Harbour Board.
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 in
respect of the above-mentioned loans that the [Name of local authority] intends 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].
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VUW Te Waharoa —
NZ Gazette 1934, No 83
NZLII —
NZ Gazette 1934, No 83
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Auckland Harbour Board Loans Conversion Order, 1934
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💰 Finance & Revenue13 November 1934
Loans Conversion, Auckland Harbour Board, Order in Council, Local Authorities Interest Reduction and Loans Conversion Act, 1932–33