1004
THE NEW ZEALAND GAZETTE
[No. 37

Consenting to the Raising of Portion (£2,000) of the Hutt County Council’s Loan of £43,000 and Prescribing the Conditions Thereof

C. W. M. NORRIE, Governor-General
By his Deputy,
H. E. BARROWCLOUGH
ORDER IN COUNCIL

At the Government House at Wellington, this 9th day of June 1954

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS the Hutt County Council (hereinafter called the said local authority), being desirous of raising a loan of forty-three thousand pounds, to be known as Pinehaven Water Supply Loan 1953, for the purpose of providing a water supply for the Pinehaven District, has complied with the provisions of the Local Government Loans Board Act 1926 (hereinafter called the said Act):

And whereas the said local authority is desirous of raising in the first instance part of the said loan amounting to two thousand pounds (hereinafter called the said sum) 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 sum:

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 sum for the said purpose up to the amount of two thousand pounds, and in giving such consent hereby determines as follows:

1. The term for which the said sum or any part thereof may be raised shall be 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 fifty-seven pounds ten shillings and ninepence each, 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, firstly, 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, and the balance of such half-yearly payment in reduction of 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 said principal 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. 49/290/29)

Varying the Determinations in Respect of the Grey Hospital Board’s Loan of £14,000

C. W. M. NORRIE, Governor-General
By his Deputy,
H. E. BARROWCLOUGH
ORDER IN COUNCIL

At the Government House at Wellington, this 2nd day of June 1954

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

WHEREAS by Order in Council made on the 5th day of May 1954, and subject to the determinations as to borrowing and repayment therein set out, consent was given to the raising in New Zealand by the Grey Hospital Board (hereinafter called the said local authority) of a loan of fourteen thousand pounds to be known as Board Room and Office Block Loan 1954 (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 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 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 ten 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 per cent per annum.

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

(a) By twenty equal payments of four hundred and forty-five pounds ten shillings and sixpence, 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. 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 loan 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 loan of a sum equal to the amount to which the principal of the said loan 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 loan 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. 49/590/5)

Promotions and Relinquishments of Temporary Rank of Officers of the Emergency Force

PURSUANT to section 16 of the New Zealand Army Act 1950, His Excellency the Governor-General has been pleased to approve of the following promotions and relinquishments of temporary rank of officers of the Emergency Force:

PROMOTIONS

THE ROYAL N.Z. ARTILLERY

Lieutenant B. W. Perham to be temp. Captain whilst employed as Troop Commander, 16 Fd. Regt., R.N.Z.A. Dated 10 March 1954.

Lieutenant R. A. Hogg to be temp. Captain whilst employed as Troop Commander, 16 Fd. Regt., R.N.Z.A. Dated 12 April 1954.

Lieutenant D. L. Shaw to be temp. Captain whilst employed as Troop Commander, 16 Fd. Regt., R.N.Z.A. Dated 14 April 1954.

2nd Lieutenant (temp. Lieutenant) I. N. Thompson to be Lieutenant. Dated 5 April 1954.

THE ROYAL N.Z. CORPS OF SIGNALS

2nd Lieutenant V. E. McKay to be temp. Lieutenant whilst employed as R.L.O., 1st Comwel. Div. Sig. Regt. Dated 8 April 1954.

THE ROYAL N.Z. ARMY SERVICE CORPS

Lieutenant P. R. Sumner to be temp. Captain whilst employed as Officer I.C., Comp. Pl., 10 Coy, R.N.Z.A.S.C. Dated 7 March 1954.

THE ROYAL N.Z. ELECTRICAL AND MECHANICAL ENGINEERS

2nd Lieutenant B. P. C. Atkins to be temp. Lieutenant whilst employed as O.C., 28 Fd. Engr. L.A.D. Dated 7 May 1954.

TEMPORARY RANK RELINQUISHED

THE ROYAL N.Z. ARTILLERY

Lieutenant (temp. Captain) B. W. Perham relinquishes the temporary rank of Captain on ceasing to be employed as Troop Commander, 16 Fd. Regt., R.N.Z.A. Dated 31 March 1954.

2nd Lieutenant (temp. Lieutenant) J. H. W. Mainwaring relinquishes the temporary rank of Lieutenant on ceasing to be employed as G.P.O., 16 Fd. Regt., R.N.Z.A. Dated 14 April 1954.

2nd Lieutenant (temp. Lieutenant) B. L. E. Notley relinquishes the temporary rank of Lieutenant on ceasing to be employed as A.C.P.O., 16 Fd. Regt., R.N.Z.A. Dated 14 April 1954.

Dated at Wellington, this 9th day of June 1954.

T. L. MACDONALD, Minister of Defence.