CO129-442 - Governor Sir May - 1917 [4-6] — Page 516

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Between these two dates it has been thought better to choose

the 1st November, 1928, and this Ordinance accordingly makes the

necessary changes in sub-sections (1), (2) and (3) of section 47

and in section 7, of the War Loan Ordinance, 1916.

The Crown Agents also pointed out the undesirability of

making all interests cease on drawn bonds from the date of the

drawing. This was the effect of sub-section (2) of section 4

of the principal Ordinance. Sub-section (6) of the new section

4 which has now been substituted provides that at least 15 days must elapse between the drawing and the date on which interest

ceases to run.

the

The Ordinance also provides for mode of drawing in more

detail than the principal Ordinance. It was originally in-

tended that these details should be directed by the Governor

under section 11 of the principal Ordinance, but it seemed con-

venient to include them in this Ordinance, The previsions are

based on the model of the General Loan and Inscribed Stock Ordi-

nange which is used in the case of loans domiciled with the

Crown Agents.

In my opinion this is an Ordinance to which His Excellency the Governor may properly assent in the name of His Majesty and

on His behalf,

Pace

Attorney General, 19th June, 1917.