10
429
all.
8.
With regard to paragraph 4, I have to state that enquiry has been made of the Banks, and that none of them are willing to give security for deposits by Government in excess of the prescribed limits.
Under Your Lordship's instructions it would therefore be necessary that the balance of the Praya Fund (which at present amounts to $328,295.23 including deposits) should be drawn on by the Crown Agents and temporarily invested.
9.
But I must point out that the Government only hold the contributions of the Lotholders towards the cost of the Reclamation, in trust, and that it is not possible without the sanction of the Lotholders to remit
10
429
all.
8.
With regard
regard to
paragraph 4. I have to
has
: state that enquiry
been made of the Banks,
and that none
are
of them
willing to give security for deposits by Government
e of the prescribed
in excess.
limits.
Under Your Lordship's
instructions it would
therefore be necessary that the balance of the
Praya
*
Praya Fund (which at present
amounts to #328,295.23
including deposits) should
be drawn on
by the Crown
Agents and temporarily –
invested.
9.
But I must point
out that the Government - only hold the contributions of the Lotholders towards the cost of the Reclamation, in trust, and that it is not possible without the sanction of the Lotholders to
remit
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