CO129-605-5 Government loans 4-2-1948 - 8-1-1949 — Page 68

Section 7 (7) Omit entirely.

Section 8 (d) Add words "and the conditions

under which the bonds shall be transferable".

Section 8 (f) Re-draft to read "to provide

for the manner in which interest on the

bonds shall be paid".

Section 9 Ómit words "together in either

case with all outstanding coupons attached

to such bond". Provision for the registra-

tion of the bonds should then be included in

regulations issued in accordance with

Section 8 (a) as amended.

3. As issue of $50,000,000 has already

been made, grateful to learn what arrange-

ments could be made for ensuring that stock

should now be registered or deposited.

Appreciate that such action might seem to

be contrary to terms on which loan was

subscribed and might militate against future

subscriptions but matter is of great

importance. Grateful for your early comments.

4.

Suggestion has been made that

registration of proposed premium bonds might

detract from their popularity.

Grateful

for your early comments on this also.

Premium element in such bonds might render

them less liable to exchange control leakage,

if in bearer form, than ordinary bonds.

Matter is being further examined, but view

now held here is that registration would bẻ

necessary to obviate danger of leakage.

5.

56 Minor points arising from Ordinance

are added for your consideration and amend-

ment if desired:-

Section 7 (5) Following more definite

version of first four lines may be preferred.

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