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4. These Conversion bonds will be redeemable at par on the 1st August, 1953, and will not be redeemable before that date otherwise than by purchase in the open market which is authorised by section 9 (2).
5. The principal moneys and interest represented by the Conversion bonds, which like the Public Works Loan bonds will be bearer bonds transferable by delivery, will be charged on and secured by a sinking fund and the revenue and assets of the Colony.
6. The Conversion bonds will be authorised investments in which any trustee, not expressly forbidden by the terms of the instrument creating the trust, may invest funds in his hands.
7. The moneys appropriated for the payment of interest. on the Conversion bonds and for the formation of the sinking fund and all dividends, interest or produce of any investments which represent any portion of the sinking fund, will be exempted from the defence contribution payable under Ordin- ance No. 1 of 1901.
May, 1933.
C. G. ALABASTER,
Attorney General.
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