10 JUNE] THE NEW ZEALAND GAZETTE 983

SCHEDULE

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 money.

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 cent of any amount raised.

7. No money 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. 49/254/43)

Varying the Determinations in Respect of Portion (£3,000) of the Clutha County Council’s Loan of £15,000

C. W. M. NORRIE, Governor-General

ORDER IN COUNCIL

At the Government House at Auckland, this 24th day of May 1954

Present:

His Excellency the Governor-General in Council

WHEREAS by Order in Council made on the 28th day of January 1953 and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising in New Zealand by the Clutha County Council (hereinafter called the said local authority) of an amount of ten thousand pounds, being portion of a loan of fifteen thousand pounds known as Works Loan 1952 (hereinafter called the said loan):

And whereas an amount of seven thousand pounds has not yet been raised and it is expedient to cancel the determinations aforesaid in respect of portion thereof amounting to three thousand pounds (hereinafter called 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 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 per cent per annum.

3. The said sum or any part thereof shall be repaid as follows:

(a) By twenty equal payments of one hundred and nine pounds thirteen shillings and fourpence, 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 payment of interest computed at the rate of four per cent 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 a sum 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.

4. The payments referred to in clause 3 hereof shall be made in New Zealand and no such payment shall be made out of loan money.

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 cent of any amount raised.

6. No money 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. 49/338/2)

Varying the Determinations in Respect of the Balance (£7,810) of the Geraldine County Council’s Loan of £10,000

C. W. M. NORRIE, Governor-General

ORDER IN COUNCIL

At the Government House at Auckland, this 24th day of May 1954

Present:

His Excellency the Governor-General in Council

WHEREAS by Order in Council made on the 31st day of October 1940 (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 Geraldine County Council (hereinafter called the said local authority) of a loan of ten thousand pounds to be known as Rural Housing Loan 1940 (hereinafter called the said loan):

And whereas the authority conferred by the said Order in Council has not been exercised to the extent of seven thousand eight hundred and ten pounds (hereinafter called the said sum), and it is expedient to vary certain of the determinations aforesaid in respect of the said sum:

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 a rate of interest not exceeding three pounds per cent per annum, as specified in clause 2 of the said Order in Council, 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 and one-half per cent per annum.

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

(T. 49/468/4)

Exempting Land in the Southland Land District From the Operation of Part III of the Coal Mines Act 1925

C. W. M. NORRIE, Governor-General

By his Deputy,

H. E. BARROWCLOUGH

PURSUANT to the Coal Mines Act 1925, His Excellency the Governor-General hereby gives the following notice.

NOTICE

The land described in the Schedule hereto is hereby exempted from the operation of Part III of the Coal Mines Act 1925.

SCHEDULE

ALL that piece of land situated in the Wairio Survey District containing 1 rood 2·3 perches, more or less, being Lot 30, D.P. 4361, being part of Section 94, Block III, Wairio Survey District, and being part of the land comprised in certificate of title, Volume 105, folio 103 (Southland Registry).

As witness the hand of His Excellency the Governor-General, this 31st day of May 1954.

W. SULLIVAN, Minister of Mines.

(6/10/690)

State Forest Land in the Taranaki Land District Set Apart for the Purposes of Part III of the Coal Mines Act 1925

C. W. M. NORRIE, Governor-General

By his Deputy,

H. E. BARROWCLOUGH

PURSUANT to section 9 of the Coal Mines Amendment Act 1953, His Excellency the Governor-General hereby sets apart the land described in the Schedule hereto for the purposes of Part III of the Coal Mines Act 1925.

SCHEDULE

ALL that area of land containing 1,450 acres, more or less, being part of State Forest No. 55, situated in Blocks XII and XVI, Waro Survey District, in the Taranaki Land District; as the same is more particularly delineated on the plan numbered S.O. 8639, deposited in the office of the Chief Surveyor at New Plymouth, and thereon edged red.

As witness the hand of His Excellency the Governor-General, this 31st day of May 1954.

W. SULLIVAN, Minister of Mines.

(Mines 6/4/60)