4264

THE NEW ZEALAND GAZETTE.

[No. 93

Hunterville Town Board Loans Conversion Order, 1934.

BLEDISLOE, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 10th day of December, 1934.
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS it is provided by section nine of the Local Authorities Interest
Reduction and Loans Conversion Act, 1932-33, that, with the precedent
consent of the Governor-General, given by Order in Council under section thirteen
of the said Act after compliance with the provisions of Part II of the Act, and
subject to and in accordance with the provisions of such Order in Council, any
local authority may issue new securities in conversion of any existing securities
to which the said Act applies:
And whereas by the said section thirteen it is further provided that the
Governor-General, by the Order in Council giving his consent to the conversion
of existing securities by a local authority, may make such provisions as he thinks
fit with respect to all or any of the matters specified in the said section, and that,
subject to the provisions of the said Act, every Order in Council under the said
section shall have the force of law as if enacted in the said Act, anything to
the contrary in any other Act or in any regulations made under the said Act or
any other Act notwithstanding:
And whereas the Hunterville Town Board (being a local authority within
the meaning of the said Act) has issued securities in respect of the loans specified
in the First Schedule hereto, and such securities are existing securities to which
the said Act applies:
And whereas the said local authority, being desirous of issuing new securities
in conversion of such existing securities, has complied with the provisions of
Part II of the said Act, and it is expedient that the precedent consent of the
Governor-General to such conversion should be given as required by the said Act,
and that by this Order the provisions hereinafter set forth should be made with
respect to the matters specified in the said section thirteen:
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 the said Act, and of all other powers and authorities
enabling him in this behalf, doth hereby consent to the issue by the said
local authority of new securities in conversion of any existing securities to
which this Order applies, and with respect to such conversion doth hereby make
the following provisions.
PRELIMINARY.

1. This Order may be cited as the Hunterville Town Board Loans Conversion
   Order, 1934.
2. In this Order, unless the context otherwise requires,-
   "The Act" means the Local Authorities Interest Reduction and Loans
   Conversion Act, 1932-33:
   "The date of conversion" means the date specified in clause five of this
   Order:
   "Existing securities" means debentures or other securities issued before the
   first day of April, one thousand nine hundred and thirty-three;
   and includes any securities issued on or after that date, but before
   the date of conversion, in replacement (as that term is defined in the
   Act) of any such securities:
   "The local authority" means the Hunterville Town Board:
   "Local fund" has the same meaning as in Part V of the Local Bodies' Loans
   Act, 1926:
   "New securities" or "new debentures" means securities or debentures issued
   in accordance with this Order in conversion of existing securities to
   which this Order applies:
   "Unconverted securities" means existing securities to which this Order
   applies and in respect of which dissent from conversion is signified
   in accordance with the provisions of this Order.
   APPLICATION OF ORDER.
3. This Order shall apply to all existing securities issued in respect of the
   loans specified in the First Schedule hereto.
   SPECIAL RESOLUTION OF LOCAL AUTHORITY.
4. (1) If the local authority so resolves by a resolution passed and confirmed
   as provided by subsection two of section nine of the Act, it may, subject to and
   in accordance with the provisions of this Order, issue new securities in conversion
   of existing securities to which this Order applies.
   (2) The following provisions of this Order shall come into force if such a
   resolution is passed and confirmed as aforesaid, but not otherwise:
   Provided that a certificate signed by the Chairman of the local authority
   and published in the Gazette to the effect that such a resolution has been duly
   passed and confirmed shall be conclusive evidence of the facts therein certified.