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(which advances will be applicable for the purpose aforesaid) on the understanding that the sums so advanced by them, shall be considered as advanced for the purchase of Crown Lands to be there-after in due order and course applied for or selected by them out of any Crown Lands within the Province open for selection and purchase, and on having secured to them interest in the mean time at a fair rate on the moneys so by them paid in advance :

1. Be it therefore enacted by the Superintendent of the Province of New Plymouth, with the advice and consent of the Provincial council thereof, as follows :—

All moneys paid to the Commissioner of Crown Lands acting within the Province on or before the 1st day of May 1854, in advance for the purchase of Crown Lands within the Province, shall carry interest at the rate of 10 per centum per annum, as from the time when the same shall be so paid in advance, until such time as Crown Lands shall be actually selected in virtue of such payments : and the said interest shall be charged upon the General Revenue of the Province, and shall be payable half yearly, on the 30th day of June, and the 31st day of December ; a proportionate payment of interest being made in respect of any fractional period. Provided always, that the receipt of the said Commissioner of Crown Lands for every sum so paid shall within ten days from the time of payment be presented and registered at the office of the Treasurer of the Province. Provided also that the principal money on which interest shall be chargeable under this ordinance shall not exceed £5,000. Provided also that it shall be lawful for the Superintendent at any time by notice published in the Government Gazette of the Province to declare that no sum paid to the said Commissioner of Crown Lands, or after any subsequent time to be therein appointed shall bear interest under this Ordinance.

2. The said interest shall be payable to any person who shall present at the office of the said Treasurer the receipt of the said Commissioner for the principal sum in respect of which such interest is payable.

3. Every receipt for money carrying interest under this Ordinance shall be, either for the sum of £50, or for the sum of £100, and every selection in virtue of part of any such payment as aforesaid to the said Commissioner, shall be deemed (for the purposes only of this Ordinance) to be a satisfaction of the whole of such payment ; and interest on the whole of such payment shall there-upon cease accordingly.

4. No interest shall accrue due under the authority of this Ordinance after the 31st day of December, 1855.

5. Nothing in this Ordinance contained shall prejudice or affect the rights of the holders of Debentures issued by the General Government of the Colony, nor any other permanent charge upon the Revenue of the Colony heretofore imposed or authorised by any law or ordinance of the Colony.

Passed the Provincial Council this seventh
day of March, one thousand eight hun-
dred and fifty four.

Assented to on behalf of the Governor this
eighth day of March, one thousand eight
hundred and fifty four.

I. NEWTON WATT,
Speaker.

CHARLES BROWN,
Superintendent