6 Nov.)

Now, therefore, pursuant to section ll of the Local Govern-
ment Loans Board Act 1926, as set out in section 29 of the Finance
Act 1932 (No. 2), His Excellency the Administrator of the Govern-
ment, acting by and with the advice and consent of the Executive
Council, hereby cancels the aforesaid determinations in respect of
the said sum and in lieu thereof makes the following
determinations:

1. The term for which the said sum or any part thereof may be
   raised shall not exceed fifteen (15) 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 four pounds (£4) per centum
   per annum.

3. The said sum or any part thereof 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 stated
   opposite each such half-year in the second column of the said
   Schedule.

SCHEDULE

First Column. Second Column. First Column. Second
Half-year. Amount. Half-year. Column.
Amount.

1st ... £ 300 16th ... £ 500
2nd ... 300 17th ... 400
3rd ... 400 18th ... 500
4th ... 300 19th ... 500
5th ... 400 20th ... 500
6th ... 400 21st ... 500
7th ... 300 22nd ... 500
8th ... 400 23rd ... 500
9th ... 400 24th ... 500
10th ... 400 25th ... 600
11th ... 400 26th ... 500
12th ... 400 27th ... 600
13th ... 500 28th ... 500
14th ... 400 29th ... 600
15th ... 400 30th ... 37,100

4. The payment of interest and redemptions in respect of the
   said sum shall be made in New Zealand.

5. No amount payable either as interest or as a redemption in
   respect of the said sum shall be paid out of loan-moneys.

6. The rate payable for brokerage, underwriting, and procurati-
   on fees in respect of the raising of the said sum or any part thereof
   shall not in the aggregate exceed three-quarters 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. 49/197/17)

Varying the Determinations in Respect of the Kaikohe Borough
Council's Loan of £7,500

H. F. O'LEARY,
Administrator of the Government
ORDER IN COUNCIL
At the Government House at Wellington, this 29th day of
October 1952
Present:
HIS EXCELLENCY THE ADMINISTRATOR OF THE GOVERNMENT
IN COUNCIL
WHEREAS by Order in Council made on the 2nd day of July
1952 and subject to the determinations as to borrowing and
repayment therein set out, consent was given to the raising in New
Zealand by the Kaikohe Borough Council (hereinafter called the said
local authority) of a loan of seven thousand five hundred pounds
(£7,500) to be known as " Water Reticulation Extension Loan 1952 "
(hereinafter called the said loan):
And whereas the said loan has not yet been raised and it is
expedient to cancel the determinations aforesaid in respect of the
said loan and make new determinations in lieu thereof:
Now, therefore, pursuant to section ll of the Local Government
Loans Board Act 1926, as set out in section 29 of the Finance Act
1932 (No. 2), His Excellency the Administrator of the Government,
acting by and with the advice and consent of the Executive Council,
hereby cancels the aforesaid determinations in respect of the said
loan and in lieu thereof makes the following determinations:

1. The term for which the said loan or any part thereof may be
   raised shall not exceed fifteen (15) 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 four pounds (£4) per centum
   per annum.

3. The said loan or any part thereof shall be repaid as follows:
   (a) By twenty-nine (29) equal payments of one hundred and
   twenty-five pounds (£125) each, one of such payments
   to be made at the end of every half-year commencing
   from the date on which the said loan is raised.
   (b) By a payment at the end of the thirtieth half-year from the
   date of borrowing of the said loan of an amount of three
   thousand eight hundred and seventy-five pounds
   (£3,875).

4. The payment of interest and redemptions in respect of the
   said loan shall be made in New Zealand.

5. No amount payable either as interest or as a redemption in
   respect of the said loan shall be paid out of loan-moneys.

6. The rate payable for brokerage, underwriting, and procurati-
   on 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.

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. 49/392/7)

Varying the Determinations in Respect of Loans or Portions Thereof being Raised by Certain Local Authorities

H. F. O'LEARY,
Administrator of the Government
ORDER IN COUNCIL
At the Government House at Wellington, this 29th day of October 1952
Present:
HIS EXCELLENCY THE ADMINISTRATOR OF THE GOVERNMENT IN COUNCIL
WHEREAS by Orders in Council made on the respective dates specified in the third column of the Schedule hereto, consent was given
to the raising by the respective local authorities enumerated in the first column of the said Schedule of the respective loans stated
in the second column of the said Schedule, subject in each case to the determinations set forth in such Orders in Council:
And whereas the authorities conferred by the said Orders in Council have not been exercised in respect of each respective loan to the
extent specified in the fourth column of the said Schedule opposite each such loan:
And whereas it is expedient to vary the determinations of each respective loan in so far as such determinations apply to the raising
of the sum specified in the fifth column of the said Schedule opposite each such loan (hereinafter called the said sum):
Now, therefore, pursuant to section ll of the Local Government Loans Board Act 1926, as set out in section 29 of the Finance Act
1932 (No. 2), His Excellency the Administrator of the Government, acting by and with the advice and consent of the Executive Council,
hereby varies in respect of each loan referred to in the Schedule hereto, certain of the aforesaid determinations in respect of the raising of
such loan in so far as such determinations apply to the raising of the said sum, by prescribing that in lieu of the rate of interest as specified
in the Order in Council authorizing the raising of such loan, 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 of rates exceeding four pounds (£4) per centum per annum.

SCHEDULE

Third Column. Fourth Column. Fifth Column.
Date of Consenting Amount of Sum in Respect
Order in Council Loan of Which Rate
and Amount Thereby Unraised. of Interest is
Authorized. Hereby Varied.

First Column. Second Column.
Name of Local Authority. Name of Loan.
Ashburton Borough Council ... Water Pumping Loan 1951 ... 19 December 1951, £8,000 ... 8,000 ... 8,000
Manukau County Council ... Sanitary Conveniences and Dress-
ing Sheds Loan 1952 ... 30 July 1952, £28,000 ... 28,000 ... 10,000

T. J. SHERRARD,
Clerk of the Executive Council.
(T. 40/416/6)