SEPT. 20] THE NEW ZEALAND GAZETTE 1163

Regulations under the Naval Defence Act, 1913, amended

C. L. N. NEWALL, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington, this 12th day of September, 1945
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

IN pursuance and exercise of the powers and authorities conferred on him by section twenty-five of the Naval Defence Act, 1913, and of all other powers and authorities enabling him in that behalf, His Excellency the Governor-General, with the advice of the Executive Council, doth hereby amend and supplement the regulations referred to in the Schedule hereto as shown therein.

SCHEDULE

Regulations for the Government and Payment of the Royal New Zealand Navy, 1939
APPENDIX II.—RATES OF ALLOWANCES: OFFICERS

No. 13: Cancel and substitute the following part:—

C. A. JEFFERY, Clerk of the Executive Council

Consenting to the Raising of a Loan of £15,000 by the Bay of Islands Electric-power Board and prescribing the Conditions thereof

C. L. N. NEWALL, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington, this 12th day of September, 1945
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Bay of Islands Electric-power Board (hereinafter called “the said local authority”), being desirous of raising a loan of forty-seven thousand pounds (£47,000), to be known as “Reticulation Extension Loan (No. 2) 1945” (hereinafter called “the said loan”), for the purpose of further reticulating the Board’s inner area, has complied with the provisions of the Local Government Loans Board Act, 1926 (hereinafter called “the said Act”):
And whereas by Order in Council made on the sixteenth day of May, one thousand nine hundred and forty-five, consent was given to the raising of a portion thereof amounting to twelve thousand pounds (£12,000):
And whereas the said local authority is arranging to raise a further portion thereof amounting to fifteen thousand pounds (£15,000) (hereinafter called “the said sum”), 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 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 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 sum for the said purpose up to the amount of fifteen thousand pounds (£15,000), and in giving such consent doth hereby determine as follows:—
(1) The term for which the said sum 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 sum or any part thereof shall be such as shall not produce to the lender or lenders a rate exceeding three pounds ten shillings (£3 10s.) per centum per annum.
(3) The said sum shall be repaid by half-yearly instalments of principal of not less than three hundred and seventy-five pounds (£375) each, extending over the term as determined in clause one above.
(4) The payment of interest and the repayment of principal in respect of the said sum shall be made in New Zealand.

(5) No amount payable as either interest or as principal in respect of the said sum shall be paid out of loan-moneys.
(6) The rate payable for brokerage, underwriting, and procurement fees in respect of the raising of the said sum or any part thereof shall not in the aggregate exceed one-half per centum of any amount raised.
(7) 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.

(T. 49/664/3.)

Consenting to the Raising of the Balance (£8,260) of the Whangarei Borough Council’s Loan of £33,630 and prescribing the Conditions thereof

C. L. N. NEWALL, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington, this 12th day of September, 1945
Present:
HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council made on the sixteenth day of August, 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 by the Whangarei Borough Council (hereinafter called “the said local authority”) of a loan of thirty-three thousand six hundred and thirty pounds (£33,630), to be known as “Stormwater Loan, 1939”:
And whereas the authority conferred by the said Order in Council has not yet been exercised to the extent of eight thousand two hundred and sixty pounds (£8,260):
And whereas the authority has lapsed in accordance with the provisions of clause six of the said Order in Council, and it is not now lawful or competent for the said local authority to raise the balance of the said loan or any portion thereof except in accordance with the provisions of a further Order in Council that may be issued pursuant to section eleven of the Local Government Loans Board Act, 1926 (hereinafter called “the said Act”):
And whereas the said local authority is now desirous of raising the balance of the said loan amounting to eight thousand two hundred and sixty pounds (£8,260) (hereinafter called “the said sum”), and it is expedient to authorize the said local authority to raise the said sum on the conditions hereinafter set out:
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