(2.) All co
the boin portion o
und shan
His Majesty's Mint be forth with pla for the ordinary purposes of the Cu. Provided always that the Commission them or any part of them for an equiva coins which for the time being are le Colony, and it shall be lawful for the C this purpose to hold in any part of t amount of coin as reminted as aforesaid as seem fit.
...Bil
(3.) The cost of such remiuting as aforesaid and all Cost of charges in connection therewith including any loss of silver remiating caused by the said reminting and any difference in the way good from to be made of loss between the nominal value of coin originally taken General from the coin portion of the Fund to be reminted as afore Ravenue. said and the nominal value of the new coins actually received back from His Majesty's Mint shall be made good to the Commissioners from the General Revenue of the Colony.
(4.) In the event of the reminting of any part of the coin portion of the Fund as aforesaid the mouthly abstracts published in the Gazette by the Commissioners in accord- ance with section 11 of this Ordinance shall include and show separately in the statement of the coin portion of the Note Guarantee Fund the nominal value of the coin taken out to be reminted.
Investment and Depreciation Fund. 9(1) The investment portion of the Note Guarantee Investment Fond may be invested in Indian Government securities portion of and such securities of the Government of the United King- Note Guar dom or of the Government of any British Colony other than Hougkong or in such other socurities ua may from time to time be approved of by a Socretary of State.
(2.) All such investments shall if made in England be made in the joint names of the Crown Agents for the Colonies and of sneh other officers or persous as a Secretary of State shall appoint as Trustoes on behalf of the Commissioners. Investments made in India in Indian Government securities shall be made in the names of the Commissioners.
(3.) The securities shall be applicable for the payment of currency notes and for no other purposes.
(4.) The income derived from securities shall be ap- plied
(a.) in paying the expenses of aud incidental to the
execution of this Ordinance; and
(b) subject to the provisions of section 10 and section
1 hereof in the payment of the net balance after the payment of the said expenses to a Depreciation Fund.
antee Fundi.
10.-(1.) A separate account shall be kept of the De- Depreciation preciation Fond and the income of the Fund shall be investod Fund. by way of accumulation so as to form part of the Fund, but save as aforesaid or as is otherwise expressly provided by thie Ordinance the Depreciation Fand shall form part of the investment portion of the Note Guarantee Fund and the pr visions of this Ordinance shall apply thereto secordingly. (2.) Whenever the Governor satisfies a Secretary of State that the Depreciation Fund is not less than ten per cent. of the investment portion of the Note Guarantee Fund and that any depreciation of market value below the cost price of the securities forming the investment part of Guarantee Fund has been made good and that it is unne. cessary for the present to increase the Depreciation Func Fund he may order the annual payment to the Depreciation of the said net balance to be discontinued and the said net balance to be paid to the general revenue of the Colony. If at any time thereafter the Governor is of opi- nion that it is necessary to increase the Depreciation Fund the Governor may order that the whole of or any part of the said uet balance shall be again paid into the Deprecia- tion Fund.
591
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Page 600Page 601
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