2460
No. 12 of 1916.
WAR LOAN.
[Originally No. 12 of 1916.
No. 1 of 1917.
No. 17 of 1917. Law Rev. Ord., 1924.] Short title.
Authority
No. 12 of 1916.
An Ordinance to authorise the raising of a War Loan.
[20th October, 1916.]
1. This Ordinance may be cited as the War Loan Ordinance, 1916.
2. The Governor may raise a sum not exceeding three million dollars by the issue in the Colony of bonds and any sum so raised shall be placed at the disposal of His Majesty's Government for the prosecution of the present war.
Loan to be a charge on general revenue.
Redemption.
*
3.-(1) The principal moneys and interest represented by the bonds issued under the provisions of this Ordinance are hereby charged upon and shall be payable out of the revenue and assets of the Colony.
(2) The Governor shall appropriate out of the revenue and assets of the Colony such sums as may be necessary to provide for the expenses of the flotation and management of the loan.
4.-(1) Subject to the provisions of sub-sections (2) to (8), both inclusive, the bonds shall be redeemable at par on the 1st day of November, 1928, from and after which date all interest on the principal moneys represented thereby shall cease and determine, whether payment of the principal shall have been demanded or not.
(2) At any time or times after the 31st day of October, 1921, the Governor may approve of the redemption by purchase of bonds of such denominations and to such respective total nominal values as he may from time to time determine.
(3) At any time or times after the 31st day of October, 1921, the Governor may appoint a day for the drawing by lot of bonds of such denominations and to such respective total nominal values as he may from time to time determine.
(4) If a day is appointed by the Governor for drawing, the Colonial Treasurer shall give, by advertisement in the
* As amended by No. 17 of 1917 and Law Rev. Ord., 1924.
2460
No. 12 of 1916.
WAR LOAN.
[Originally No. 12 of 1916.
No. 1 of 1917.
No. 17 of 1917. Law Rev.
Ord., 1924.] Short title.
Authority
No. 12 of 1916.
An Ordinance to authorise the raising of a War Loan.
[20th October, 1916.]
1. This Ordinance may be cited as the War Loan Ordi- nance, 1916.
2. The Governor may raise a sum not exceeding three to raise foan. million dollars by the issue in the Colony of bonds and any sum so raised shall be placed at the disposal of His Majesty's Government for the prosecution of the present war.
Loan to be
a charge on general
revenue.
Redemption.
*
3.-(1) The principal moneys and interest represented by the bonds issued under the provisions of this Ordinance are hereby charged upon and shall be payable out of the revenue and assets of the Colony.
(2) The Governor shall appropriate out of the revenue and assets of the Colony such sums as may be necessary to provide for the expenses of the flotation and management of the loan.
4.-(1) Subject to the provisions of sub-sections (2) to (8), both inclusive, the bonds shall be redeemable at par on the 1st day of November, 1928, from and after which date all interest on the principal moneys represented thereby shall cease and determine, whether payment of the principal shall have been demanded or not.
(2) At any time or times after the 31st day of October, 1921, the Governor may approve of the redemption by purchase of bonds of such denominations and to such respective total nominal values as he may from time to time determine.
(3) At any time or times after the 31st day of October, 1921, the Governor may appoint a day for the drawing by lot of bonds of such denominations and to such respective total nominal values as he may from time to time determine. (4) If a day is appointed by the Governor for drawing, the Colonial Treasurer shall give, by advertisement in the
* As amended by No. 17 of 1917 and Law Rev. Ord., 1924.
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