May 21.] THE NEW ZEALAND GAZETTE. 1423

Amending Maximum Rate of Interest payable on Savings-
bank Deposits.
C. L. N. NEWALL, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 6th day
of May, 1942.
Present:
THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL.
WHEREAS pursuant to the provisions of section fifty
of the National Expenditure Adjustment Act, 1932,
as amended by section fifteen of the Finance Act, 1934, an
Order in Council was made on the twenty-fifth day of March,
one thousand nine hundred and thirty-five, and published in
the New Zealand Gazette of the twenty-eighth day of March,
one thousand nine hundred and thirty-five, fixing the maximum rate of interest payable by the trustees of any savings-
bank on moneys deposited with such bank at three per centum
per annum:
And whereas it is desirable to amend the maximum rate of
interest fixed by the said Order in Council:
Now, therefore, His Excellency the Governor-General of
the Dominion of New Zealand, in pursuance and exercise of
the power and authority conferred on him by section fifty
of the National Expenditure Adjustment Act, 1932, as amended
by section fifteen of the Finance Act, 1934, and of all other
powers and authorities in this behalf him enabling, and
acting by and with the advice and consent of the Executive
Council of the said Dominion, doth hereby order and declare
that the maximum rate of interest that may be paid by the
trustees of any savings-bank on moneys deposited (whether
before or after the date hereof) with such bank for any period
commencing after the thirty-first day of May, one thousand
nine hundred and forty-two, shall be two and one-half per
centum per annum. The renewal of any deposit or any
variation of the terms upon which any deposit is held shall
be deemed to be the acceptance of a new deposit on the date
of renewal or of the variation of terms (as the case may be).
W. O. HARVEY,
Acting Clerk of the Executive Council.
(T. 43/89.)

Amending Maximum Rate of Interest on Savings-bank Deposits
made with any Building Society.
C. L. N. NEWALL, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 6th day
of May, 1942.
Present:
THE RIGHT HON. P. FRASER PRESIDING IN COUNCIL.
WHEREAS pursuant to the provisions of section fifty-one
of the National Expenditure Adjustment Act, 1932,
as amended by section sixteen of the Finance Act, 1934, an
Order in Council was made on the thirty-first day of July,
one thousand nine hundred and thirty-four, and published in
the New Zealand Gazette of the thirty-first day of July, one
thousand nine hundred and thirty-four, fixing the maximum
rate of interest payable by any building society on any
savings-bank deposits made with such building society at
three per centum per annum:
And whereas it is desirable to amend the maximum rate of
interest fixed by the said Order in Council:
Now, therefore, His Excellency the Governor-General of
the Dominion of New Zealand, in pursuance and exercise of
the power and authority conferred on him by section fifty-one
of the National Expenditure Adjustment Act, 1932, as amended
by section sixteen of the Finance Act, 1934, and of all other
powers and authorities in this behalf him enabling,
and acting by and with the advice and consent of the Executive
Council of the said Dominion, doth hereby order and declare
that the maximum rate of interest that may be paid by any
building society on any savings-bank deposit made (whether
before or after the date hereof) with any such building society
for any period commencing after the thirty-first day of May,
one thousand nine hundred and forty-two, shall be two
and one-half per centum per annum. The renewal of any
deposit or any variation of the terms upon which any deposit
is held shall be deemed to be the acceptance of a new deposit
on the date of renewal or of the variation of terms (as the case
may be).
W. O. HARVEY,
Acting Clerk of the Executive Council.
(T. 43/89.)

Consenting to the Raising of a Loan of £12,000 by the Taranaki
Electric-power Board and prescribing the Conditions thereof.
C. L. N. NEWALL, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 20th day of
May, 1942.
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Taranaki Electric-power Board (hereinafter called "the said local authority"), being
desirous of raising the sum of twelve thousand pounds
(£12,000) by a loan to be known as "Reticulation Extension
Loan, 1942" (hereinafter called "the said loan"), for the
purpose of further reticulating the Board's rating area as
defined in section fifteen of the Finance Act (No. 2), 1936,
has complied with the provisions of the Local Government
Loans Board Act, 1926 (hereinafter called "the said Act"),
and it is expedient that the precedent consent of the Governor-
General in Council, as required by the said Act, should be
given to the raising 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 eleven of the said Act, 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, doth hereby consent to the raising in New Zealand
by the said local authority of the said loan for the said purpose up to the amount of twelve thousand pounds (£12,000),
and in giving such consent doth hereby determine as follows:-
(1) The term for which the said loan or any part thereof
may be raised shall not exceed twenty (20) years.
(2) The rate of interest that may be paid in respect of the
said loan or any part thereof shall be such as shall not produce to the lender or lenders a rate or rates exceeding three
pounds ten shillings (£3 10s.) per centum per annum.
(3) The said loan or any part thereof shall be repaid by
equal half-yearly instalments of principal extending over the
term as determined in (1) above.
(4) The payment of such instalments of principal and the
payment of interest shall be made in New Zealand, and no
instalments of principal and no interest shall be paid out of
loan-moneys.
(5) The rate payable for brokerage, underwriting, and procurement fees in respect of the raising of the said loan or any
part thereof shall not in the aggregate exceed one-half per
centum of any amount raised.
(6) No moneys shall be borrowed under this consent after
the expiration of two years from the date hereof.
C. A. JEFFERY,
Clerk of the Executive Council.

Consenting to the Raising of a Loan of £160,530 by the Lower
Hutt City Council and prescribing the Conditions thereof.
C. L. N. NEWALL, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 20th day of
May, 1942.
Present:
HIS EXCELLENCE THE GOVERNOR-GENERAL IN COUNCIL.
WHEREAS the Lower Hutt City Council (hereinafter
called "the said local authority"), being desirous
of raising the sum of one hundred and sixty thousand five
hundred and thirty pounds (£160,530) by a loan to be known
as "Water-supply Improvement Loan, 1941" (hereinafter
called "the said loan"), for the purpose of providing
reservoirs, pumping stations and equipment, sinking wells,
improving the reticulation, providing further water-mains
and valves, and cement-lining some of the existing mains,
has complied with the provisions of the Local Government
Loans Board Act, 1926 (hereinafter called "the said Act"),
and it is expedient that the precedent consent of the Governor-
General in Council, as required by the said Act, should be
given to the raising 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 eleven of the said Act, 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, doth hereby consent to the raising in New Zealand
by the said local authority of the said loan for the said purpose up to the amount of one hundred and sixty thousand five
hundred and thirty pounds (£160,530), and in giving such consent doth hereby determine as follows:-
(1) The term for which the said loan or any part thereof
may be raised shall not exceed thirty (30) years.
(2) The rate of interest that may be paid in respect of the
said loan or any part thereof shall be such as shall not produce
to the lender or lenders a rate or rates exceeding three pounds
ten shillings (£3 10s.) per centum per annum.
(3) The said loan or any part thereof, together with interest
thereon, shall be repaid by equal aggregate annual or half-
yearly instalments extending over the term as determined
in (1) above.
(4) The payment of such instalments shall be made in
New Zealand, and no instalments shall be paid out of loan-
moneys.
(5) The rate payable for brokerage, underwriting, and
procuration fees in respect of the raising of the said loan or
any part thereof shall not in the aggregate exceed one-half
per centum of any amount raised.
(6) No moneys shall be borrowed under this consent after
the expiration of three years from the date hereof.
C. A. JEFFERY,
Clerk of the Executive Council.
(T. 49/11/22.)