Dec. 18.] THE NEW ZEALAND GAZETTE. 3945

CONSENT TO CONVERSION.

7. The consent of the holder of the existing securities to the conversion thereof in accordance with this Order shall, if given, be specified in writing, and when given shall be irrevocable.

NEW SECURITIES.

8. The aggregate amount of principal secured by the new securities to be issued in accordance with this Order, together with interest thereon computed at the rate of four and three-quarters per centum per annum, shall be repaid by equal half-yearly instalments over a period of twenty-two and a half years, the first half-yearly instalment to fall due and be paid on the first day of May, one thousand nine hundred and forty-two, and subsequent half-yearly instalments to fall due and be paid on every first day of November and first day of May thereafter, the last half-yearly instalment to fall due and be paid on the first day of May, one thousand nine hundred and sixty-four.

9. (1) New securities for the amount of each half-yearly instalment referred to in the preceding clause shall be issued in the form of debentures in the form numbered (2) in the Second Schedule hereto.

(2) All new debentures shall be numbered consecutively, and as between the holders thereof shall rank equally.

(3) Every new debenture shall state on its face the fact that the holder has no claim in respect thereof upon the Government or public revenues of New Zealand.

(4) Every new debenture shall be signed by the Chairman, countersigned by the Treasurer or some other officer appointed by the local authority for the purpose, and sealed with the common seal of the local authority.

SURRENDER OF EXISTING SECURITIES AND PAYMENT OF INTEREST THEREON.

10. The holder of the existing securities shall surrender the existing securities in exchange for the new securities, and shall be entitled to receive on the date of conversion interest on the existing securities for the period ending on that date.

PLACE FOR PAYMENT OF PRINCIPAL AND INTEREST.

11. The principal and interest in respect of new securities shall be payable at Sydney, Australia.

APPLICATION OF EXISTING SINKING FUNDS.

12. The existing sinking fund of the loan referred to in the First Schedule hereto shall be applied by the Commissioners thereof, so far as it will extend in or towards making the following payments, in the following order of priority, namely:—

(a) First, in payment, in accordance with the directions of the local authority, of the costs and charges (not exceeding in the aggregate two thousand six hundred and sixty-eight pounds fifteen shillings) of and incidental to the conversion of existing securities to which this Order applies or incurred by reason of the repayment as at the date of conversion of any portion of the principal sum outstanding in respect of the loan referred to in the First Schedule hereto;

(b) The balance of the sinking fund shall be applied towards the repayment of the new securities, and for that purpose the Commissioners shall on the first day of May, one thousand nine hundred and forty-two, and on each first day of November and first day of May thereafter, up to and including the first day of May, one thousand nine hundred and sixty-four, pay to the local authority an amount calculated at the date of conversion to extinguish the said balance of the sinking fund exactly in twenty-two and a half years, assuming that interest at the rate of two per centum every half-year is credited to such balance from time to time. The amount so paid to the local authority on each such date shall be applied towards repayment, so far as it will extend, of the principal secured by the new securities maturing on such date.

13. Subject to the provisions of clause 12 of this Order, the rates, revenue, or other securities appropriated, pledged, or given as security for the existing securities shall remain in full force and effect, and shall without further authority be deemed to be appropriated, pledged, and given as security for the new securities.

14. All costs, charges, and expenses incidental to the conversion shall be borne by the local authority.

FIRST SCHEDULE.

LOAN TO BE CONVERTED.

• Less amount of principal repaid up to and including date of conversion.

SECOND SCHEDULE.

FORMS.

(1) Notice.

NEW PLYMOUTH HARBOUR BOARD.

CONVERSION under the Local Authorities Interest Reduction and Loans Conversion Act, 1932–33, section 20 of the Finance Act (No. 2), 1935, and the New Plymouth Harbour Board Loans Conversion Order, 1941, of debentures or other securities issued in respect of the following loan [Particulars of loan].

Notice is hereby given to the holder of debentures or other securities issued in respect of the above-mentioned loan that with the consent of the holder thereof the New Plymouth Harbour Board intends to convert all such debentures or other securities into new debentures having new maturity dates and bearing interest at 4¾ per cent. per annum.

The conversion will take effect from the 1st day of November, 1941.

Consent to conversion, if given, must be made in writing, and when given shall be irrevocable.

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 , 194 .

, Chairman.

(2) New Debenture.

No.

NEW PLYMOUTH HARBOUR BOARD, NEW ZEALAND.

New debenture, issued pursuant to Part II of the Local Authorities Interest Reduction and Loans Conversion Act, 1932–33, section 20 of the Finance Act (No. 2), 1935, and the New Plymouth Harbour Board Loans Conversion Order, 1941. New debenture for £ , payable at the Bank of New Zealand, Sydney, Australia, on the day of , 19 , issued by the New Plymouth Harbour Board, New Zealand, under the above-mentioned Acts and Order pursuant to a resolution passed and confirmed by the said Board as provided by section 9 (2) of the said Local Authorities Interest Reduction and Loans Conversion Act, 1932–33.

(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 the Bank of New Zealand, Sydney, Australia, on or after the day of , 19 , the bearer thereof will be entitled to receive £ .

Issued under the common seal of the New Plymouth Harbour Board, the day of , 1941.

A.B., Chairman.

C.D., Treasurer [or other officer appointed for the purpose].

[L.S.]

T. R. AICKIN,

Acting Clerk of the Executive Council.

(T. 49/202/5.)

Domain Board appointed to have Control of the Mackaytown Domain.

C. L. N. NEWALL, Governor-General.

ORDER IN COUNCIL.

At the Government House at Wellington, this 17th day of December, 1941.

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.

IN pursuance and exercise of the powers conferred by section forty-four of the Public Reserves, Domains, and National Parks Act, 1928, 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, doth hereby appoint

William Bramble,

William Crosbie,

Frederick John Dare,

John Benjamin Morris, and

William Griffin

to be the Mackaytown Domain Board, having control of the land described in the Schedule hereto; and doth hereby appoint Friday, the nineteenth day of December, one thousand nine hundred and forty-one, at eight o’clock p.m., as the time when, and the St. Aidan’s Hall, Karangahake, as the place where, the first meeting of the Board shall be held.

SCHEDULE.

MACKAYTOWN DOMAIN.—NORTH AUCKLAND LAND DISTRICT. SECTION 73, Block XIII, Ohinemuri Survey District: Area, 15 acres 1 rood 14 perches, more or less.

Also Section 22, Block I, Aroha Survey District: Area, 2 acres 0 roods 18·3 perches, more or less.

T. R. AICKIN,

Acting Clerk of the Executive Council.

(L. and S. 1/29.)