11 Feb.] THE NEW ZEALAND GAZETTE 217

SCHEDULE

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 redemp-
   tion in respect of the said loan shall be paid out of loan
   moneys.

6. The rate payable for brokerage, underwriting or pro-
   curation fees in respect of the raising of the said loan 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. 49/273/3)

Varying the Determinations in Respect of Portion (£50,000) of
the Poverty Bay Electric Power Board’s Loan of £150,000

C. W. M. NORRIE, Governor-General

ORDER IN COUNCIL

At the Government Buildings at Wellington, this 26th day of
January 1954

Present:

THE HON. W. SULLIVAN PRESIDING IN COUNCIL

WHEREAS by Order in Council made on the 23rd day of
September 1953 (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 Poverty Bay Electric Power
Board (hereinafter called the said local authority) of the sum
of fifty thousand pounds (£50,000), being portion of a loan of
one hundred and fifty thousand pounds (£150,000) known as
‘‘ Extensions Loan (East Coast) 1953 ’’:

And whereas the said sum of fifty thousand pounds (herein-
after called the said sum) has not yet been raised and it is
expedient to vary certain of the determinations aforesaid in
respect thereof:

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 sum by prescribing that in
lieu of repayment in the manner prescribed in clause 3 of the
said Order in Council the said sum or any part thereof shall
be repaid as follows:

(a) By sixteen equal half-yearly payments of one
thousand one hundred and seventy-six pounds nine
shillings and fivepence (£1,176 9s. 5d.) each, the
first such payment to be made at the end of the
fourth half-year from the date on which the said
sum is raised.

(b) By a payment at the end of the tenth year from the
date of borrowing of the said sum of an amount
of thirty-one thousand one hundred and seventy-six
pounds nine shillings and fourpence (£31,176 9s. 4d.).

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

(T. 49/242/9)

Varying the Determinations in Respect of the Balance
(£35,000) of the Poverty Bay Electric Power Board’s
Loan of £150,000

C. W. M. NORRIE, Governor-General

ORDER IN COUNCIL

At the Government Buildings at Wellington, this 26th day of
January 1954

Present:

THE HON. W. SULLIVAN PRESIDING IN COUNCIL

WHEREAS by Order in Council made on the 9th day of
April 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 Poverty Bay Electric Power
Board (hereinafter called the said local authority) of a loan
of one hundred and fifty thousand pounds (£150,000) to be
known as ‘‘Extensions Loan 1952’’ (hereinafter called the
said loan):

And whereas the authority conferred by the said Order in
Council has not yet been exercised to the extent of thirty-five
thousand pounds (£35,000) (hereinafter called the said sum),
and it is expedient to cancel the determinations aforesaid in
respect of the said sum and make new determinations in lieu
thereof:

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 cancels the determinations
aforesaid 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 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
   four pounds (£4) per centum per annum.

3. The said sum shall be repaid as follows:

(a) By twenty equal payments of seven hundred pounds
(£700), one of such payments to be made at the
end of every half-year commencing from the date
on which the said sum is raised.

(b) By a payment at the end of the tenth year from
the date of the raising of the said sum of an
amount of twenty-one thousand pounds (£21,000).

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

5. No amount payable either as interest or as principal
   shall be paid out of loan moneys.

6. The rate payable for brokerage, underwriting, and
   procuration 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. 49/242/8)

Varying the Determinations in Respect of Portion (£20,000)
of the Waitemata County Council’s Loan of £35,000

C. W. M. NORRIE, Governor-General

ORDER IN COUNCIL

At the Government Buildings at Wellington, this 2nd day
of February 1954

Present:

THE RIGHT HON. K. J. HOLYOAKE PRESIDING IN COUNCIL

WHEREAS by Order in Council made on the 12th day of
August 1953 (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 Waitemata County Council (hereinafter
called the said local authority) of the sum of twenty thousand
pounds (£20,000) (hereinafter called the said sum), being
portion of a loan of thirty-five thousand pounds (£35,000)
known as ‘‘ Workers’ Dwellings Loan 1952 ’’:

And whereas the authority conferred by the said Order in
Council has not yet been exercised, and it is expedient to cancel
the determinations aforesaid in respect of the said sum and
make new determinations in lieu thereof:

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 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 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 four
   pounds (£4) per centum per annum.

3. The said sum shall be repaid as follows:

(a) By twenty equal payments of seven hundred and
thirty-one pounds two shillings and fourpence
(£731 2s. 4d.), one of such payments to be made
at the end of every half-year commencing from the
date on which the said sum is raised. Each such
half-yearly payment shall be applied first in pay-
ment of interest computed at the rate of four pounds
(£4) per centum per annum on the amount of
principal for the time being outstanding at the
beginning of each such half-year in respect of the
said sum, and the balance of such half-yearly
payment in reduction of such principal.

(b) By a payment at the end of the tenth year from the
date of the raising of the said sum of an amount
equal to the amount to which the principal of the
said sum has been reduced in accordance with the
preceding paragraph (a) hereof after payment of
the aforesaid twenty half-yearly payments.