960
THE NEW ZEALAND GAZETTE.
[No 22

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 4½ 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 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 said Council [or Board, or 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
the day of , 19 .

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

C. A. JEFFERY,
Clerk of the Executive Council.

(T. 49/330/6.)

Opotiki Borough Loans Conversion Order 1935 (No. 1).

MICHAEL MYERS,
Administrator of the Government.

ORDER IN COUNCIL.

At the Government House at Wellington, this 25th day of March, 1935.

Present:

HIS EXCELLENCY THE ADMINISTRATOR OF THE GOVERNMENT 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 Opotiki Borough Council (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 Administrator of the Government 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 Opotiki Borough Loans Conversion Order,
   1935 (No. 1).

2. In this Order, unless the context otherwise requires,—

“ The Act ” means the Local Authorities Interest Reduction and Loans
Conversion Act, 1932–33: