Varying the Determinations in respect of the Balance (£10,200)
of the Taranaki Electric-power Board's Loan of £15,000.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 22nd day of
May, 1940.
Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS by Order in Council made on the eighth
day of March, one thousand nine hundred and
thirty-nine, and subject to the determinations as to borrowing
and repayment therein set out, consent was given to the
raising in New Zealand by the Taranaki Electric-power
Board (hereinafter called “the said local authority”) of the
sum of fifteen thousand pounds (£15,000) by a loan to be
known as “Reticulation Loan, 1938”:
And whereas the authority conferred by the said Order in
Council has not yet been exercised to the extent of ten
thousand two hundred pounds (£10,200) and it is expedient
to vary the determinations aforesaid in respect of the said
sum of ten thousand two hundred pounds (£10,200) (herein-
after called “the said sum”):
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 eleven of the Local
Government Loans Board Act, 1926, as set out in section
twenty-nine of the Finance Act, 1932 (No. 2), and of all
other powers and authorities enabling him in this behalf,
both hereby vary the determinations aforesaid in respect
of the said sum by prescribing that in lieu of a rate of interest
not exceeding three pounds ten shillings (£3 10s.) per centum
per annum, as specified in clause two of the said Order in
Council, the rate of interest that may be paid in respect of
the said sum or any part thereof shall be such as shall not
produce to the lender or lenders a rate exceeding four pounds
(£4) per centum per annum.

C. A. JEFFERY,
Clerk of the Executive Council.
(T. 49/191/6.)

Varying the Determinations in respect of Portion (£150,000) of
the Auckland Transport Board’s Loan of £500,000.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 22nd day of
May, 1940.
Present:

HIS EXCELLENCEY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS by Order in Council made on the twentieth
day of July, one thousand nine hundred and thirty-
eight, and subject to the determinations as to borrowing and
repayment therein set out, consent was given to the raising by
the Auckland Transport Board (hereinafter called “the said
local authority”) of the sum of five hundred thousand pounds
(£500,000), by a loan to be known as “Transport Consolidated
Redemption Loan, 1938” (hereinafter called “the said loan”),
of which an amount of four hundred thousand pounds
(£400,000) was to be raised on terms requiring repayment by
equal aggregate annual instalments of principal and interest as
specified in clause one of the said Order in Council, and an
amount of one hundred thousand pounds (£100,000) was to be
raised on terms requiring repayment by the establishment of a
sinking fund as specified in clause two of the said Order in
Council:
And whereas by Order in Council made on the ninth day
of June, one thousand nine hundred and thirty-nine, the
determinations in respect of the said loan were varied to
provide for a rate of interest not exceeding four pounds five
shillings (£4 5s.) per centum per annum:
And whereas by Order in Council made on the fifth day of
July, one thousand nine hundred and thirty-nine, certain of
the determinations were varied in respect of the sum of two
hundred thousand pounds (£200,000) being portion of the
amount of four hundred thousand pounds (£400,000) specified
in clause one of the Order in Council of the twentieth day of
July, one thousand nine hundred and thirty-eight:
And whereas in respect of the other portion of the amount
of four hundred thousand pounds (£400,000) amounting to two
hundred thousand pounds (£200,000), the sum of one hundred
and ninety-five thousand pounds (£195,000) has not yet been
raised and it is expedient to vary certain of the determinations
in respect of the sum of one hundred and fifty thousand
pounds (£150,000) (hereinafter called “the said sum”):

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 eleven of the Local Government
Loans Board Act, 1926, as set out in section twenty-nine of
the Finance Act, 1932 (No. 2), and of all other powers and
authorities enabling him in this behalf, both hereby vary the
determinations aforesaid in respect of the said sum by pre-
scribing as follows:—
(1) In lieu of a term not exceeding fifteen (15) years as
specified in clause one (a) of the Order in Council of the
twentieth day of July, one thousand nine hundred and thirty-
eight, the term shall be ten (10) years.
(2) In lieu of a rate of interest not exceeding four pounds five
shillings (£4 5s.) per centum per annum, as specified in the
Order in Council of the ninth day of June, one thousand nine
hundred and thirty-nine, the rate of interest that may be paid
in respect of the said sum shall be such as shall not produce to
the lender or lenders a rate exceeding four pounds (£4) per
centum per annum.
(3) In lieu of repayment by equal aggregate annual or half-
yearly instalments of principal and interest as specified in
clause one (b) of the Order in Council of the twentieth day of
July, one thousand nine hundred and thirty-eight, the said
sum shall be repaid by the half-yearly redemption of debentures
in the half-years set out in the First Column of the Schedule
hereunder of the amounts set opposite each half-year in the
Second Column of the said Schedule.

SCHEDULE.
First Column. Second Column.
Half-year. Amount.
£
1st ... ... ... 6,200
2nd ... ... ... 6,300
3rd ... ... ... 6,400
4th ... ... ... 6,600
5th ... ... ... 6,700
6th ... ... ... 6,800
7th ... ... ... 7,000
8th ... ... ... 7,100
9th ... ... ... 7,200
10th ... ... ... 7,400
11th ... ... ... 7,500
12th ... ... ... 7,700
13th ... ... ... 7,800
14th ... ... ... 8,000
15th ... ... ... 8,100
16th ... ... ... 8,300
17th ... ... ... 8,500
18th ... ... ... 8,600
19th ... ... ... 8,800
20th ... ... ... 9,000

C. A. JEFFERY,
Clerk of the Executive Council.
(T. 49/457/6.)

Varying the Determinations in respect of Portion (£5,000) of
the Central Hawke’s Bay Electric-power Board’s Loan of
£25,000.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 22nd day of
May, 1940.
Present:

HIS EXCELLENCEY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS by Order in Council made on the seventeenth
day of December, one thousand nine hundred and
thirty-eight, and subject to the determinations as to
borrowing and repayment therein set out, consent was given
to the raising in New Zealand by the Central Hawke’s Bay
Electric-power Board (hereinafter called “the said local
authority”) of the sum of twenty-five thousand pounds
(£25,000) by a loan to be known as “Reticulation Loan,
1938”:
And whereas the authority conferred by the said Order in
Council has not been exercised to the extent of nine thousand
pounds (£9,000) and it is expedient to vary certain of the
determinations aforesaid in respect of the sum of five thousand
pounds (£5,000) (hereinafter called “the said sum”) being a
portion thereof:
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