The decimal currency references in the Schedule were substituted for the previous references, as from 10 July 1967, pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27).
AUTHORISED by an Act of the General Assembly of New Zealand, and being the Act No , of , and thereby charged upon the lands specified in Schedule 1 to the above Act, and not on the ordinary or other revenue of the Colony of New Zealand, or on the revenue or moneys of the Public Trust Office.
The principal to be repaid at par by the application to annual drawings of 1 per cent accumulative sinking fund.
The bearer of this debenture will be entitled to receive from the Public Trustee $200 on the first Monday in the month of October following the day on which this debenture shall have been drawn for payment.
The bearer will further be entitled to receive interest thereon half-yearly at the rate of per centum per annum from the day of inclusive to the day on which the principal shall become due and payable by reason of this debenture being drawn.
The drawings will take place in the month of, on a day to be fixed by the Public Trustee, of which at least twenty-one days' notice will be given, commencing in 190, and will be conducted in the presence of such debenture-holders as may be pleased to attend and of a notary public. The debentures drawn will be paid off at par on the first Monday in October following, together with interest up to that day inclusive, and no longer.
“accumulative sinking fund” it is understood that the liability will continue at the rate of 1 per centum per annum on the total amount of debt contracted until the whole shall have been extinguished, and that after paying the interest on the outstanding debentures the balance will be applied to the annual drawings.