✨ Loan Conversion Order Details
Nov. 7.] THE NEW ZEALAND GAZETTE. 3073
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. | ||
| Waingawa Bridge Loan (part) | £1,750* | 4½ Per Cent. | 4¼ Per Cent. |
| " " | 875* | 4½ | 4¼ |
| " " | 875* | 4½ | 4¼ |
| Waiohine Bridge Construction Loan, £1,969, 1915 | 1,969 | 5 | 4¼ |
| Boundary Compensation Loan, £150, 1923 | 150 | 6 | 4⅘ |
| Boundary Compensation Loan, £200, 1923 | 200 | 6 | 4⅘ |
| Flood Damage General Loan, £4,200, 1928 | 4,200 | 6 | 4⅘ |
| Flood Damage Dalefield Riding Loan, £300, 1928 | 300 | 6 | 4⅘ |
| FloodDamage Belvedere Riding Loan, £500, 1928 | 500 | 6 | 4⅘ |
| General Flood Damage Loan, £1,000, 1926 | 1,000 | 6 | 4⅘ |
| MainHighways Surfacing Loan, £9,000, 1927 | 9,000 | 6 | 4⅘ |
| Maungaraki Cottages Loan of £2,400, 1927 | 2,400 | 6 | 4⅘ |
| £23,219 |
- Less amount of principal repaid as at date of conversion.
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].
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.
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VUW Te Waharoa —
NZ Gazette 1935, No 82
NZLII —
NZ Gazette 1935, No 82
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Wairarapa South County Loans Conversion Order, 1935
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💰 Finance & Revenue4 November 1935
Loan Conversion, Local Authority, Wairarapa South County Council, Order in Council, Sinking Funds, Special Rate