CO129-605-5 Government loans 4-2-1948 - 8-1-1949 — Page 71

71

"The Governor shall in the half year

ending on the date specified in the

prospectus of any loan issued under the

terms of this Ordinance as that on which the

first contribution to the sinking fund

shall be taken and in each subsequent half

year appropriate out of" etc.

Section 7 (6) Use of sinking funds for

purchase of bonds need not necessarily be

limited to a price not exceeding par.

Even above par, bonds might still be the

best investment.

SECER

Leation 5 of the Ordinance

under

5. As regards

the loan

No be

is praised

could

under

the General Loan

which

I

any

part of

in this country

provisions of

Che

and

Stoel Ordinance 1913,

Inscribed

Section 10

of the fatter Grdinance provides for transfer by delivery. Section 10

Exchange

Lowever

of the United Kingdom Control Ext 1947 prohibits the cosme

bearer certifextes

of

or coupons

without Treasury permission.

I should accordingly be glad of Jou would consider wha

admendments

what other

are required to Gramance No. 48 of 1947

ofsary and to

and to Ordinance No. 7

1913 in

1913

vnew

of the United Kingdom

Exchange Control lect

1947.