29 JAN.] THE NEW ZEALAND GAZETTE 119

Varying the Determinations in Respect of the Christchurch Transport Board’s Loan of £150,000

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington, this 21st day of January 1953

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council made on the 19th day of November 1952 (hereinafter called the said Order in Council) and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising in New Zealand by the Christchurch Transport Board (hereinafter called the said local authority) of a loan of one hundred and fifty thousand pounds (£150,000) to be known as “Modernization Loan 1950, £50,000, Portion £150,000” (hereinafter called the said loan):

And whereas the said loan has not yet been raised and it is expedient to vary certain of the determinations aforesaid in respect of the said loan:

Now, therefore, pursuant to section 11 of the Local Government Loans Board Act 1926, as set out in section 29 of the Finance Act 1932 (No. 2), His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby varies certain of the determinations aforesaid in respect of the said loan by prescribing that in lieu of repayment by equal aggregate annual or half-yearly instalments of principal and interest, as specified in clause 3 of the said Order in Council, the said local authority shall, before raising the said loan or any part thereof, make provision for the repayment thereof by establishing a sinking fund under the Local Bodies’ Loans Act 1926, or under such other statutory enactment as may be applicable, and shall thereafter make payments to such sinking fund at intervals of not more than one year at a rate or rates per centum which shall be not less than six pounds fourteen shillings and sixpence (£6 14s. 6d.), such payments to be made in respect of every part of the said loan for the time being so borrowed and not repaid, the first such payment to be made not later than one year after the first day from which interest to the lender or lenders is computed on the said loan or any part thereof so raised.

T. J. SHERRARD,
Clerk of the Executive Council.

(T. 49/222/24)

Varying the Determinations in Respect of the Ashburton Borough Council’s Loan of £8,000

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington, this 21st day of January 1953

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council made on the 19th day of December 1951 (hereinafter called the said Order in Council) and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising in New Zealand by the Ashburton Borough Council (hereinafter called the said local authority) of a loan of eight thousand pounds (£8,000) to be known as “Water Pumping Loan 1951” (hereinafter called the said loan):

And whereas the authority conferred by the said Order in Council has not yet been exercised and it is expedient to vary certain of the determinations aforesaid in respect of the said loan:

Now, therefore, pursuant to section 11 of the Local Government Loans Board Act 1926, as set out in section 29 of the Finance Act 1932 (No. 2), His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby varies the determinations aforesaid in respect of the said loan by prescribing that in lieu of a term of twenty-five (25) years, as specified in clause 1 of the said Order in Council, the term for which the said loan or any part thereof may be raised shall not exceed twenty (20) years.

T. J. SHERRARD,
Clerk of the Executive Council.

(T. 49/113)

Revoking Order in Council Licensing Alfred Alan Harris to Use and Occupy Part of Foreshore at Rawene, Hokianga Harbour

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington, this 21st day of January 1953

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council dated the 22nd day of June 1949, and published in the Gazette of the 30th day of the same month, at page 1425, Alfred Alan Harris was licensed to use and occupy a part of the foreshore and land below low-water mark at Rawene, Hokianga Harbour, as a site for a boat-slip:

And whereas it is desirable to revoke the said Order in Council:

Now, therefore, pursuant to the Harbours Act 1950, His Excellency the Governor-General hereby revokes as from the 1st day of April 1953 the hereinbefore recited Order in Council.

T. J. SHERRARD,
Clerk of the Executive Council.

Foreshore Licence—Whangaroa Harbour—Site for a Store and Boatshed—Lane and Sons Limited

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington, this 21st day of January 1953

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

PURSUANT to the Harbours Act 1950, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby licenses and permits Lane and Sons Limited, of Whangaroa (hereinafter called the company, which term shall include its successors and assigns unless the context requires a different construction), to use and occupy all those parts of the foreshore and land below low-water mark of Whangaroa Harbour, shown as Site No. 22 on plan marked M.D. 2294, and deposited in the office of the Marine Department at Wellington, for the purpose of maintaining thereon a store and boatshed as shown on the said plan, such licence to be held and enjoyed by the company upon and subject to the terms and conditions set forth in the Schedule hereto.

SCHEDULE

CONDITIONS

(1) This licence is subject to the Foreshore Licence Regulations 1940 and the provisions of those regulations shall so far as applicable apply hereto.

(2) The premium payable by the company shall be £2 (two pounds) and the annual sum so payable shall be £3 (three pounds).

(3) The term of the licence shall be fourteen years from the 1st day of January 1953.

T. J. SHERRARD,
Clerk of the Executive Council.

Consenting to the Raising of a Loan of £5,000 by the Nelson City Council and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General
ORDER IN COUNCIL

At the Government House at Wellington, this 21st day of January 1953

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Nelson City Council (hereinafter called the said local authority), being desirous of raising a loan of five thousand pounds (£5,000) to be known as “Drainage Advances Loan 1952” (hereinafter called the said loan) for the purpose of making advances to owners in respect of the cost of drainage connections in terms of section 234 of the Municipal Corporations Act 1933, 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, pursuant to section 11 of the said Act, as set out in section 29 of the Finance Act 1932 (No. 2), His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby consents to the raising in New Zealand by the said local authority of the said loan for the said purpose up to the amount of five thousand pounds (£5,000), and in giving such consent hereby determines as follows:—

1. The term for which the said loan 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 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 local authority shall, before raising the said loan or any part thereof, make provision for the repayment thereof by establishing a sinking fund under the Local Bodies’ Loans Act 1926, or under such other statutory enactment as may be applicable, and shall thereafter make payments to such sinking fund at intervals of not more that one year at a rate or rates per centum which shall be not less than eight pounds fourteen shillings and sixpence (£8 14s. 6d.), such payments to be made in respect of every part of the said loan for the time being so borrowed and not repaid, the first such payment to be made not later than one year after the first day from which interest to the lender or lenders is computed on the said loan or any part thereof so raised.

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

5. No amount payable as either interest or sinking fund in respect of the said loan shall be paid out of loan-money.

6. 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.

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. 49/279/38)