the-ordinances-of-the-legislative-counci-1890v2 — Page 741

WIDOWS' AND ORPHANS' PENSIONS. [ 30 OF 1890. ] 1331

8. The directors may make regulations not inconsistent with Regulation.
this ordinance for the better carrying out of the same, and such [ Ibid. 40.]
regulations shall be subject to the approval of the Governor in
Council, and shall be published in the Gazette.
9. All acts and decisions of the directors under this ordinance Appeal to
may be revised and modified by the Governor in Council, whose Governor in
decision shall be final in all questions which may arise under [ Ibid. 31.]
this ordinance .
10. All payments into and out of the fund shall be made in Currency.
dollars current in the Colony, and no pension shall be either
increased or abated on the ground that the pensioner entitled
to it is residing in a country where dollars are not current.
When a contributor is drawing pay or pension in sterling, such
pay or pension shall be abated four per centin sterling, and the
fund shall be credited with the equivalent of such abateinent at
the rate of exchange of the day.
11. A sum not exceeding five per cent shall be deducted from Working
the total annual contributions to the fund to defray all expenses expenses.. )
connected with its administration .
12. On the thirty -first day of December of the tenth year Investigation
after the coming into force of this ordinance, or so soon after as by actuary:]
possible, and quinquennially thereafter, an actuary or actuaries
to be appointed by the Governor in Council shall investigate
the fund, and report fully as to its working , its results , its
financial position, and whether any, and if so , what re-adjust
ment of pensions or contributions is necessary .
Investment of the fund. Conditions of contribution.
13. All moneys belonging to the fund shall be placed on The fund .
deposit in the Colonial Treasury or in such bank as may be [Ibid. 4.]
fixed upon by the directors, and shall bear interest at the yearly
rate of six per cent without deduction. Such interest shall be
calculated on the daily balances standing in the hands of the
Colonial Treasurer to the credit of such fund , and the amount
of interest so due shall be computed half-yearly, and carried to
the credit of such fund not later than the tenth day of January
*
and the tenth day of July in each year. [ No. 18 of
1891. ]
14. The abatement of four per cent from the salary of any Cessor of
contributor shall continue until such contributor shall contribution .
[ Ibid . 7. )
( 1. ) Have contributed for thirty -five successive years, or ( No. 18 of
( 2. ) Have completed the sixty -fifth year of his age, or 1891, 8. 3.]
( 3. ) Cease to be a public -officer,
whichever inay first happen. Provided that no contributor
shall be compelled to pay any contributions towards the fund
beyond such as will entitle his widow or orphans to the maxi
mum yearly pension provided for by section 38 .