311215-1941-Supplementary-Draft-Bills--Rents — Page 14

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fund.

10. If at any time the Financial Secretary is satisfied Power to

suspend that the value of the war savings certificates sinking fund payments to will be sufficient with further accumulations of interest but sinking without further payments of contributions to enable the certificates to be repaid out of the proceeds of the fund when the certificates shall fall due to be redeemed the Governor may with the approval of the Legislative Council suspend further payments of contributions to the sinking fund: Provided always that contributions to the sinking fund shall be recommenced if the Financial Secretary shall at any time inform the Governor that it is necessary so to dò.

repayment,

11. All expenses whatsoever of or incidental to the issue Expenses of of war savings certificates and their repayment, including issue, find. the payment of brokerage, the cost of advertisement and of etc., a the management of the sinking fund are hereby charged upon general and shall be payable out of the general revenues and assets revenues of the Colony but not from the sinking fund.

charge on

and to be

paid therefrom.

12. Annual accounts of the sale and repayment of Accounts. certificates, and of the increment earned on certificates repaid and accumulated on certificates still to be repaid, together with an account of the income and expenditure of the sink- ing fund and a statement of the assets and liabilities of the fund at 31st March of each year shall be prepared by the Accountant-General and shall, after being audited and certified by the Auditor, be laid before the Legislative Council not later than the thirty-first day of August ensuing in every year and shall as soon as practicable thereafter be published in the Gazette and submitted to the Secretary of State : Provided that in calculating the increment accumulated on certificates still to be repaid the Accountant-General shall include any increment which would accrue within a period of one year less one day from the date up to which his accounts have been made.

is

authorized

13. The Accountant-General is authorized to issue and Accountant- to repay war savings certificates through such persons or General institutions as he may consider necessary in that behalf. He to issue and

empowered to take such steps and to incur such expen- repay. diture as he considers advisable to bring the existence and advantages of war savings certificates to the notice of the public.

14.-(1) Certificates shall be issued with a unit value Unit of five dollars repayable by the Government with increment certificates. at the expiration of eight years from the date of issue or earlier as hereinafter provided.

(2) For every sum of five dollars received under section 4 there shall be issued to the person by whom or on whose behalf the purchase has been made a certificate containing a statement that the holder thereof is entitled to receive from Government, on or after the expiration of eight years from the date of issue the sum of six dollars and thirty cents and

no more.

(3) Certificates shall be in such form as the Financial Authentic- Secretary may approve and shall be authenticated by the ated by signature of the Financial Secretary or by a facsimile of such Secretary. signature.

Financial