MAR. 9]

Consenting to the Raising of Portion (£30,000) of the Poverty Bay Electric-power Board's Loan of £100,000 and Prescribing the Conditions Thereof

B. C. FREYBERG, Governor-General ORDER IN COUNCIL
At the Government Buildings at Wellington, this 22nd day of February, 1950 Present:

THE HON. S. G. HOLLAND PRESIDING IN COUNCIL
WHEREAS by Order in Council made on the fifth day of February, one thousand nine hundred and forty-seven, and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising by the Poverty Bay Electric-power Board (hereinafter called the said local authority) of a loan of one hundred thousand pounds (£100,000) to be known as "Extensions Loan, 1946" (hereinafter called the said loan):
And whereas the authority conferred by the said Order in Council has lapsed in accordance with the provisions of clause seven of the said Order in Council, and it is not now lawful or competent for the said local authority to raise 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 authority has not yet been exercised to the extent of forty-five thousand pounds (£45,000), and the said local authority is now desirous of raising a portion thereof amounting to thirty thousand pounds (£30,000) (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 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 up to the amount of thirty thousand pounds (£30,000) for the purpose for which the said loan was authorized, 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-five (25) 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 or rates exceeding three pounds five shillings (£3 5s.) per centum per annum.
(3) The said sum 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 interest and principal in respect of the said sum shall be made in New Zealand.
(5) No amount payable either as 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.

T. J. SHERRARD,
Clerk of the Executive Council.
(T. 49/242/6.)

Consenting to the Raising of the Balance (£2,000) of the Egmont County Council's Loan of £3,700 and Prescribing the Conditions Thereof

B. C. FREYBERG, Governor-General ORDER IN COUNCIL
At the Government Buildings at Wellington, this 1st day of March, 1950 Present:

THE HON. S. G. HOLLAND PRESIDING IN COUNCIL
WHEREAS by Order in Council made on the eighteenth day of December, one thousand nine hundred and forty-five, and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising by the Egmont County Council (hereinafter called the said local authority) of a loan of three thousand seven hundred pounds (£3,700) to be known as "Housing Loan, 1945" (hereinafter called the said loan):
And whereas the authority conferred by the said Order in Council 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 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 an amount of two thousand pounds (£2,000) (hereinafter called the said sum) has not yet been raised, 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 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 up to the amount of two thousand pounds (£2,000) for the purpose for which the said loan was authorized, 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 ten (10) 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 or rates exceeding three pounds five shillings (£3 5s.) per centum per annum.
(3) The said sum 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 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.
(6) No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.

T. J. SHERRARD,
Clerk of the Executive Council.
(T. 49/126/21.)

Domain Board Appointed to Have Control of the Mackenzie Domain

B. C. FREYBERG, Governor-General ORDER IN COUNCIL
At the Government Buildings at Wellington, this 1st day of March, 1950 Present:

THE HON. S. G. HOLLAND PRESIDING 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
Cyril Dierck,
Alfred Donald McNabb,
Edgar Burgess,
William Angus Douglas,
William Read Bainbridge,
Dugald McLaren, and
John Thomas Read
to be the Mackenzie Domain Board, having control of the land described in the Schedule hereto; and doth hereby appoint Monday, the thirteenth day of March, one thousand nine hundred and fifty, at seven-thirty o'clock p.m., as the time when, and the Cheviot Public Hall, as the place where, the first meeting of the Board shall be held.

SCHEDULE

CANTERBURY LAND DISTRICT.—MACKENZIE DOMAIN
Town of Mackenzie
Reserve 3823, Block I : Area, 5 acres.
Reserve 3152, Block XI : Area, 2 roods 21 perches.
Reserve 3153, Block XIV : Area, 2 roods 14 perches.
Reserve 4195, Block XXII : Area, 1 rood.
Cheviot Survey District
Reserve 3146, Block VII : Area, 109 acres.
Reserve 3155, Block VII : Area, 1 acre 3 roods 16 perches.
Reserve 3156, Block VII : Area, 9 acres 3 roods 1 perch.
Reserve 3168, Block VII : Area, 6 acres 0 roods 39 perches.
Reserve 3169, Block VII : Area, 15 acres 1 rood 20 perches.
Reserve 3170, Block VII : Area, 23 acres.
Reserve 3171, Block VII : Area, 15 acres 0 roods 8 perches.
Reserve 3176, Block VII : Area, 9 acres 1 rood 16 perches.
Reserve 3178, Block VII : Area, 13 acres 3 roods.
Reserve 4242, Block VII : Area, 3 acres 0 roods 23 perches.
Reserve 4373, Block VII : Area, 1 rood 20·7 perches.
Reserve 4517, Block VII : Area, 27 acres 3 roods 15 perches.
Lowry Peaks Survey District
Reserve 3174, Block XII : Area, 36 acres 1 rood.
Reserve 3175, Block XII : Area, 9 acres 2 roods 2 perches.

T. J. SHERRARD,
Clerk of the Executive Council.
(L. and S. H.O. 1/143 ; D.O. 13/47.)