2148
THE NEW ZEALAND GAZETTE.
[No. 74

rents and premiums paid (whether before, during, or after the
period of two years aforesaid) for any lease, letting, or other
tenancy or license of or relating to any part of the said
premises during the period of two years aforesaid and by way
of any other revenue obtained from the said premises during
the period of two years aforesaid.

SCHEDULE.

ALL that piece of land situated at the corner of Albert Street
and Wellesley Street, in the City of Auckland, together with
the building erected thereon known as the Foresters’ Buildings.

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

Granting Temporary Exemption from Section 50 (4) of the
Friendly Societies Act, 1909.

GALWAY, Governor-General.
ORDER IN COUNCIL.

At the Government House at Wellington, this 21st day of
September, 1938.

Present :

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

PURSUANT to subsection one of section forty of the
Finance Act, 1938, His Excellency the Governor-
General, being of opinion that compliance with the provisions
of subsection four of section fifty of the Friendly Societies
Act, 1909, by the Auckland District of the Manchester Unity
Independent Order of Oddfellows (New Zealand) Friendly
Society, being a registered branch within the meaning of the
last-named Act (hereinafter called “the said branch”),
in respect of the period of two years ending on the thirty-
first day of December, one thousand nine hundred and thirty-
eight, would impose undue hardship on the said branch, and
acting by and with the advice and consent of the Executive
Council, doth hereby grant to the said branch exemption to
the extent hereinafter set out from the obligations of the
said subsection four in respect of the period aforesaid, that
is to say, that in lieu of the interest at the rate of not less
than four per centum per annum payable by the said branch
to any benefit fund of the said branch in terms of the said
subsection four it shall be sufficient compliance with the
obligations of the said subsection four relating to moneys
forming part of any benefit fund of the said branch invested
in the purchase of the land referred to in the Schedule hereto
and/or the erection of offices or buildings on the said land if
there be paid by the said branch into any such benefit fund
as aforesaid by way of interest for the period of two years
aforesaid a sum equal to the net amount received by the said
branch by way of rents and premiums paid (whether before,
during, or after the period of two years aforesaid) for any lease,
letting, or other tenancy or license of or relating to any part
of the said premises during the period of two years aforesaid
and by way of any other revenue obtained from the said
premises during the period of two years aforesaid.

SCHEDULE.

ALL that piece of land situated at the corner of Victoria Street
and Hobson Street, in the City of Auckland, together with
the building erected thereon known as the Manchester Unity
Building.

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

Authorizing the Borrowing by the Green Island Borough Council
by Way of Hypothecation of Debentures issued in respect of
a Loan of £4,000.

GALWAY, Governor-General.
ORDER IN COUNCIL.

At the Government House at Wellington, this 21st day of
September, 1938.

Present :

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS by Order in Council made on the eighth day
of September, one thousand nine hundred and thirty-
seven, consent was given to the raising in New Zealand by the
Green Island Borough Council (hereinafter called “the said
local authority”) of the sum of four thousand pounds (£4,000)
by a loan to be known as “Drainage (Advances to Property
Owners) Loan, 1937” (hereinafter called “the said loan”),
such consent being given subject to the determinations as to
borrowing and repayment therein set out, including, inter
alia, the provision that the rate of interest that might be
paid in respect of the said loan or any part thereof should be
such as should not produce to the lender or lenders a rate or
rates exceeding three pounds ten shillings (£3 10s.) per centum
per annum :

And whereas the said local authority, pending the raising
of the said loan in accordance with the said determinations,
is desirous of borrowing the said amount or part thereof by
hypothecation or mortgage pursuant to section thirty-four
of the Local Bodies’ Loans Act, 1926, of the debentures
authorized to be issued in respect of the said loan :

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 section seven of the Local Authorities
Interest Reduction and Loans Conversion Act, 1932-33, and
by section eight of the Local Authorities Interest Reduction
and Loans Conversion Amendment Act, 1933, and of all other
powers and authorities enabling him in this behalf, doth
hereby consent to the said local authority, pending the raising
of the said loan in accordance with the said determinations,
borrowing the said amount of four thousand pounds (£4,000)
or any part thereof by the hypothecation or mortgage of
the said debentures at a rate of interest not exceeding four
pounds ten shillings (£4 10s.) per centum per annum, and
hereby prescribes that the moneys borrowed by the hypothe-
cation or mortgage of the said debentures shall, pending the
raising of the said loan, be repaid by annual amounts equiva-
lent to the amounts of principal which would have been repaid
if on the first day on which any moneys were borrowed by such
hypothecation or mortgage the whole of the said loan of four
thousand pounds (£4,000) had been raised on the terms
prescribed by the said Order in Council made on the eighth
day of September, one thousand nine hundred and thirty-
seven.

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

(T. 49/287/11.)

Authorizing the Borrowing by the Waimea Electric-power
Board by Way of Hypothecation of Debentures issued in
respect of a Loan of £6,500.

GALWAY, Governor-General.
ORDER IN COUNCIL.

At the Government House at Wellington, this 21st day of
September, 1938.

Present :

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

WHEREAS by Order in Council made on the first day of
September, one thousand nine hundred and thirty-
eight, consent was given to the raising in New Zealand by
the Waimea Electric-power Board (hereinafter called “the
said local authority”) of the sum of six thousand five hundred
pounds (£6,500) by a loan to be known as “Waimea Area
Reticulation Supplementary Loan, 1938” (hereinafter called
“the said loan”), such consent being given subject to the
determinations as to borrowing and repayment therein set
out, including, inter alia, the provision that the rate of interest
that might be paid in respect of the said loan or any part
thereof should be such as should not produce to the lender
or lenders a rate or rates exceeding three pounds ten shillings
(£3 10s.) per centum per annum :

And whereas the said local authority, pending the raising
of the said loan in accordance with the said determinations,
is desirous of borrowing the said amount or part thereof by
hypothecation or mortgage pursuant to section thirty-four
of the Local Bodies’ Loans Act, 1926, of the debentures
authorized to be issued in respect of the said loan :

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 section seven of the Local Authorities
Interest Reduction and Loans Conversion Act, 1932-33, and
by section eight of the Local Authorities Interest Reduction
and Loans Conversion Amendment Act, 1933, and of all other
powers and authorities enabling him in this behalf, doth
hereby consent to the said local authority, pending the raising
of the said loan in accordance with the said determinations,
borrowing the said amount or any part thereof by the hypothe-
cation or mortgage of the said debentures at a rate of interest
not exceeding four pounds ten shillings (£4 10s.) per centum
per annum, and hereby prescribes that the moneys borrowed
by the hypothecation or mortgage of the said debentures
shall, pending the raising of the said loan, be repaid by annual
amounts equivalent to the instalments of principal which
would have been repaid if on the first date on which any
moneys were borrowed by such hypothecation or mortgage
the whole of the said loan of six thousand five hundred
pounds (£6,500) had been raised on the terms prescribed by
the said Order in Council made on the first day of September,
one thousand nine hundred and thirty-eight.

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

(T. 49/515/2.)