No. 547/1942:

LAND BOND (No. 2) ORDER, 1942.

LAND BOND (No. 2) ORDER, 1942.

WHEREAS it is enacted by sub-section (1) of section 4 of the Land Bond Act, 1934 (No. 11 of 1934), that, for the purposes therein mentioned, the Minister for Finance may from time to time as occasion requires but subject to the provisions of that Act, by order create a series of land bonds of such total amount and such denominations (not less in any case than one pound) and bearing interest at such rate (not less than three nor more than four per cent. per annum) and subject to such conditions in relation to registration or inscription as the said Minister shall think proper and shall specify in such order :

AND WHEREAS it is enacted by sub-section (4) of the said section 4 that where the rate of interest payable on a series of land bonds created by an order under the said section is the same as the rate of interest payable on a series of land bonds created by a previous order under the said section, such first-mentioned series of land bonds may, by the order creating the same, be consolidated with such previous series of land bonds :

AND WHEREAS the said Land Bond Act, 1934 , was amended by section 4 of the Land Act, 1936 (No. 41 of 1936) :

AND WHEREAS by the Land Bond Order, 1942 ( S. R. & O. No. 20 of 1942 ), the Minister for Finance, in exercise of the powers conferred on him by section 4 of the Land Bond Act, 1934 (No. 11 of 1934), and section 4 of the Land Act, 1936 (No. 41 of 1936), created a series of land bonds of the total amount of two hundred and fifty thousand pounds to be known as three and one-half per cent. land bonds :

NOW, the Minister for Finance, in exercise of the powers conferred on him by section 4 of the Land Bond Act, 1934 (No. 11 of 1934), and section 4 of the Land Act, 1936 (No. 41 of 1936), and of every and any other power him in this behalf enabling, hereby orders as follows :—

1.—(1) This Order may be cited as the Land Bond (No. 2) Order, 1942.

(2) The Land Bond Order, 1942 ( S. R. & O. No. 20 of 1942 ), and this Order may be cited together as the Land Bond Order (Nos. 1 and 2), 1942.

(3) Every citation of the Land Bond Orders, 1934 to 1942, shall be construed as including this Order.

2. The Interpretation Act, 1937 (No. 38 of 1937), applies to this Order.

3. A series of land bonds is hereby created of the total amount of fifty thousand pounds to be known as three and one-half per cent. land bonds.

4. The denominations in which the series of land bonds created by this Order shall be issued shall be one pound, ten pounds, and one hundred pounds, and no other denominations.

5. The series of land bonds created by this Order is hereby consolidated with the series of land bonds created by the Land Bond Order, 1942 ( S. R. & O. No. 20 of 1942 ), to the intent that the series of land bonds created by that Order and the series of land bonds created by this Order shall form one consolidated series of land bonds created under the Land Bond Act, 1934 (No. 11 of 1934), amounting to three hundred thousand pounds and accordingly paragraphs 6 to 11 of the said Land Bond Order, 1942, shall apply to the said consolidated series of land bonds in like manner as they apply to the series of land bonds created by that Order.

6. The said consolidated series of land bonds shall be for the purpose of making advances and paying purchase moneys the amounts of which are agreed or fixed in the period commencing on the 1st day of February, 1942, and ending on the 31st day of December, 1943, except advances required to be made by means of an issue of new land bonds under the Land Bond Act, 1933 (No. 33 of 1933), or by means of an issue of four per cent. land bonds under the Land Bond Act 1934 (No. 11 of 1934).

GIVEN under the Official Seal of the Minister for Finance, this 24th day of December, 1942.

(Signed) J. J. McELLIGOTT,

Secretary,

Department of Finance