CO129-539-12 Loans for public works- military finances 26-2-1932 - 7-3-1933 — Page 87

Debentures

may be either fixed-date or drawing debentures

Interest coupons

Form of debenture

and coupons

Debentures

and coupons transferable by delivery

Register of debentures

Payment of interest

(7) The debentures shall be redeemable either:-

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(a) at par on a fixed date to be declared on the

issue of the debentures such date not being later

than sixty years from the date of issue provided that

the Governor may reserve the option to redeem the

debentures at some earlier date on such conditions as

may be declared at the time of issue (such debentures

being hereinafter referred to as fixed-date debentures);

or

(b) by annual drawings at par or at the option of the

Governor by purchase in the market as hereinafter

provided (such debentures being hereinafter referred to

as drawing debentures).

(8) There shall be attached to every debenture coupons for

the payment of interest to become due in each half year upon

the principal represented by the debenture. The coupons

shall be sufficient in number to provide for the payment of

the interest either during the whole period for which the

debenture has to run or for such limited periods as the

Governor may determine from time to time not exceeding in

their totality the whole period for which the debenture has

to run.

(9) The debentures and the coupons shall be in such form

as the Governor may direct or approve,

(10) Every debenture and coupon and the right to receive

the principal and interest represented thereby shall be

transferable by delivery.

(11) Every debenture shall before being issued be

registered in a register book to be kept for that purpose

at the office of the Treasurer,

(12) The interest upon the principal represented by each

debenture shall run from the day named in that behalf in

the debenture and shall be paid half-yearly on the days named

in that behalf in the debenture at the office of the

Treasurer.

(13)