Finance Act (No 2) 1930

  • repealed
  • Finance Act (No 2) 1930: repealed, on 3 June 2017, by section 3(1) of the Statutes Repeal Act 2017 (2017 No 23).

Reprint as at 3 June 2017

Finance Act (No 2) 1930

Public Act
 
1930 No 40
Date of assent
 
25 October 1930
 

Finance Act (No 2) 1930: repealed, on 3 June 2017, by section 3(1) of the Statutes Repeal Act 2017 (2017 No 23).

Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this eprint. See the notes at the end of this eprint for further details.

This Act is administered by the Treasury.

Contents

Title
1Short Title
2Empowering Minister of Finance to borrow £5,000,000 for certain public works
3Empowering Minister of Finance to borrow £2,000,000 for electric-power works
4Empowering Minister of Finance to borrow additional £1,000,000 for purposes of Railways Improvement Authorization Act 1914 [Repealed]
5Empowering Minister of Finance to borrow additional £1,000,000 for purposes of Forests Act 1921-22
6Additional authority for Minister of Finance to make advances to Public Trustee, Native Trustee, and Government Insurance Commissioner [Repealed]
7Payments on behalf of other Governments. Repeal [Repealed]
8Repeal
9Section 6 of Finance Act 1929, amended [Repealed]
10Moneys borrowed under New Zealand State-guaranteed Advances Act 1909, and amount of securities issued under Urewera Lands Act 1921-22, to be subject to New Zealand Loans Act 1908, and certain of the same to be part of the public debt [Repealed]
11Extending purposes for which moneys borrowed under Education Purposes Loans Act 1919, may be expended [Repealed]
12Treasury may agree with bank for honouring of drafts [Repealed]
13Special provision with respect to public moneys received beyond New Zealand [Repealed]
14Special provision with respect to payment to Consolidated Fund of interest on capital expenditure on railways [Repealed]
15Minister of Railways authorized to pay license fees in respect of motor services [Repealed]
16Abolition of Waihou and Ohinemuri Rivers Improvement Account as from 1 April 1931. Commencement [Repealed]
17Kauri-gum Industry Account abolished as from 1 April 1931 [Repealed]
18Abolition of National Endowment Account
19Abolition of Cheviot Estate Account [Repealed]
20Special provision with respect to cost of administration of Hutt Valley Lands Settlement Act 1925 [Repealed]
21Fixing amount to be paid by Taieri River Trust in respect of works carried out by Minister of Public Works under section 17 of Appropriation Act 1923
22Validating payment of £5,200 by Waimarino Relief Association to the General Purposes Relief Account [Repealed]
23Taxation in respect of certain race meetings may be remitted and amount thereof applied for relief of unemployment [Repealed]
24Section 8 of Finance Act 1925, amended. Consequential repeals [Repealed]
25Special provision with respect to assessment of taxable income of renters of cinematograph-films in certain cases
26Fees for licenses under section 67 of Cemeteries Act 1908 [Repealed]
27Provision for recess travelling-allowance for Speakers of the Legislative Council and the House of Representatives [Repealed]
28Extending privileges of wives of South Island members of the General Assembly with respect to steamer tickets [Repealed]
29Repealing section 31 of Finance Act 1924 (relating to appointment of Commissioner for New Zealand in Canada and the United States)
30Amalgamation of Department of Industries and Commerce, Department of Tourist and Health Resorts, and Publicity Branch of Internal Affairs Department [Repealed]
31Authorizing payments to members of Parliament of New Zealand in respect of their services as members of certain Commissions and Committees, etc
32Section 30 of Public Works Act 1928, amended. [Repealed]
33Extending powers of Minister in Charge of Tourist and Health Resorts [Repealed]
34Constituting office of Under-Secretary of Defence. Powers and duties of Commandant of the Forces [Repealed]
35Abolishing time-limit with respect to attributability of death or disablement to war service
36Extending benefits of Coal-miners Relief Fund to co-operative workers [Repealed]
37Repeal. Special provision as to computation of pensions in cases where applicant and wife or husband of applicant are in receipt of war pensions
38Making further provision with respect to payments out of Coal-mining Accident Fund
39Special provision with respect to retiring allowances out of Public Service Superannuation Fund to certain members of Defence Forces and clerical officers of Defence Department [Repealed]
40Special provision with respect to service of T N Johnson for purposes of Public Service Superannuation Act 1927
41Special provision with respect to service of M B Esson as a member of the Post and Telegraph Department
42This Part to be deemed part of Swamp Drainage Act 1915. [Repealed]
43Section 2 of Swamp Drainage Amendment Act 1928, amended [Repealed]
44Reducing capital expenditure chargeable against Kaitaia Town District subdivision of Kaitaia Drainage Area [Repealed]
45Reducing capital expenditure chargeable against Kaitaia Rural subdivision of Kaitaia Drainage Area [Repealed]
46Authorizing Harbour Boards to make grants to certain unemployment funds
47Provision with respect to contributions by local authorities to British Empire Cancer Campaign Society [Repealed]
48Provision with respect to contributions by local authorities towards establishment of Chair of Obstetrics and Gynaecology
49Authorizing certain local authorities to contribute to Wellington Branch of New Zealand Free Ambulance Transport Service
50Authorizing Auckland Electric-power Board to establish an Imprest Account [Repealed]
51Validating expenditure by local bodies in farewelling Their Excellencies Sir Charles and the Lady Alice Fergusson and receiving Their Excellencies Lord and Lady Bledisloe
52Extension of overdraft facilities for Otago Electric-power Board
53Special provision as to expenditure of income of Akaroa and Westland High School Boards
54Contributions by local authorities towards cost of subways, bridges. or railway-bridges may be paid by instalments [Repealed]
55Extending power of saving-banks to invest funds in war loans
56Statements accident insurance companies to be certified [Repealed]
57Validating issue of licenses to use the totalizator at race meetings held in aid of earthquake and unemployment relief funds
58Validating donation by Auckland Savings-bank Trustees to Auckland Returned Soldiers’ Association Provincial Roll of Honour Fund
59Validating rates of salary and allowances being paid to Herbert John Moore-Jones as a member of the Education service
60Validating payment to T D Pearce on retirement from Education service
61Section 44 of Building Societies Act 1908, amended [Repealed]
Reprint notes

An Act to make provision with respect to public finance and other matters

 
1 Short Title

This Act may be cited as the Finance Act (No 2) 1930 .

Part 1 Public revenues and loans

2 Empowering Minister of Finance to borrow £5,000,000 for certain public works

(1)

The Minister of Finance is hereby empowered to borrow, on the security of and charged upon the public revenues of New Zealand, such sums of money as he thinks fit, not exceeding in the aggregate the sum of 5,000,000 pounds

(2)

The sums so borrowed shall bear interest at such rate as the Minister of Finance prescribes.

(3)

All moneys borrowed under the authority of this section shall, as and when borrowed, be paid into the Public Account to the credit of the General Purposes Account of the Public Works Fund, and shall from time to time be applied, in such amounts as may be from time to time appropriated by Parliament, for the following purposes, namely:

(a)

the construction of railways and additions to open lines:

(b)

additional rolling-stock for open lines, and such other works and purposes in connection therewith as may be authorized:

(c)

telegraph-extension:

(d)

the construction and improvement of roads (including main highways), tracks, and bridges for the purpose of providing and improving means of access to any lands, developing goldfields, and such other works and purposes in connection therewith as may be authorized:

(e)

the construction of irrigation-works:

(f)

oher public works, including administrative charges in respect of any public works of the classes referred to in this section.

(4)

This section shall be deemed to be an authorizing Act within the meaning of the New Zealand Loans Act 1908, and the moneys herein authorized to be borrowed shall be borrowed under and subject to the provisions of that Act accordingly.

3 Empowering Minister of Finance to borrow £2,000,000 for electric-power works

(1)

In addition to all moneys which the Minister of Finance has heretofore been authorized to borrow for the purposes of the State Supply of Electrical Energy Act 1917, the said Minister may for those purposes borrow, on the security of and charged upon the Public Revenues of New Zealand, such sums of money as he thinks fit, not exceeding in the aggregate the sum of 2,000,000 pounds.

(2)

The sums so borrowed shall bear interest at such rate as the Minister of Finance prescribes.

(3)

All moneys borrowed under the authority of this section shall, as and when borrowed, be paid into the Public Account to the credit of the Electric-supply Account established under the State Supply of Electrical Energy Act 1917, and may from time to time be applied accordingly in accordance with appropriations by Parliament.

(4)

This section shall be deemed to be an authorizing Act within the meaning of the New Zealand Loans Act 1908, and the moneys herein authorized to be borrowed shall be borrowed under and subject to the provisions of that Act accordingly.

4 Empowering Minister of Finance to borrow additional £1,000,000 for purposes of Railways Improvement Authorization Act 1914
[Repealed]

Section 4: repealed, on 28 April 1931, by section 27(5)(f) of the Finance Act (No 2) 1931 (1931 No 5).

5 Empowering Minister of Finance to borrow additional £1,000,000 for purposes of Forests Act 1921-22

In addition to all moneys which the Minister of Finance has heretofore been authorized to borrow for the purposes of the Forests Act 1921-22, the said Minister may, for those purposes, borrow such further amount, not exceeding 1,000,000 pounds, as he thinks fit, and all moneys so borrowed shall be dealt with as provided in section 40 of that Act.

6 Additional authority for Minister of Finance to make advances to Public Trustee, Native Trustee, and Government Insurance Commissioner
[Repealed]

Section 6: repealed, on 1 January 1954, by section 120(1) of the Public Revenues Act 1953 (1953 No 73).

7 Payments on behalf of other Governments. Repeal
[Repealed]

Section 7: repealed, on 1 January 1954, by section 120(1) of the Public Revenues Act 1953 (1953 No 73).

8 Repeal

Amendment(s) incorporated in the Act(s).

9 Section 6 of Finance Act 1929, amended
[Repealed]

Section 9: repealed, on 28 April 1931, by section 26(1) of the Finance Act (No 2) 1931 (1931 No 5).

10 Moneys borrowed under New Zealand State-guaranteed Advances Act 1909, and amount of securities issued under Urewera Lands Act 1921-22, to be subject to New Zealand Loans Act 1908, and certain of the same to be part of the public debt
[Repealed]

Section 10: repealed, on 1 January 1954, by section 73(1) of the New Zealand Loans Act 1953 (1953 No 74).

11 Extending purposes for which moneys borrowed under Education Purposes Loans Act 1919, may be expended
[Repealed]

Section 11: repealed, on 1 April 1975, by section 109 of the Children and Young Persons Act 1974 (1974 No 72).

12 Treasury may agree with bank for honouring of drafts
[Repealed]

Section 12: repealed, on 1 January 1954, by section 120(1) of the Public Revenues Act 1953 (1953 No 73).

13 Special provision with respect to public moneys received beyond New Zealand
[Repealed]

Section 13: repealed, on 1 January 1954, by section 120(1) of the Public Revenues Act 1953 (1953 No 73).

14 Special provision with respect to payment to Consolidated Fund of interest on capital expenditure on railways
[Repealed]

Section 14: repealed, on 21 October 1949, by section 121(1) of the Government Railways Act 1949 (1949 No 40).

15 Minister of Railways authorized to pay license fees in respect of motor services
[Repealed]

Section 15: repealed, on 1 April 1936, by section 8(5) of the Government Railways Amendment Act 1936 (1936 No 2).

16 Abolition of Waihou and Ohinemuri Rivers Improvement Account as from 1 April 1931. Commencement
[Repealed]

Section 16: repealed, on 2 October 1958, by section 2(2)(g) of the Waihou and Ohinemuri Rivers Improvement Amendment Act 1958 (1958 No 101).

17 Kauri-gum Industry Account abolished as from 1 April 1931
[Repealed]

Section 17: repealed, on 26 November 1953, by section 9(3) of the Land Amendment Act 1953 (1953 No 67).

18 Abolition of National Endowment Account

(1)

[Repealed]

(2)

[Repealed]

(3)

[Repealed]

(4)

[Repealed]

(5)

[Repealed]

(6)

Amendment(s) incorporated in the Act(s).

Section 18(1): repealed, on 6 October 1939, by section 7(6) of the Land Laws Amendment Act 1939 (1939 No 35).

Section 18(2): repealed, on 6 October 1939, by section 7(6) of the Land Laws Amendment Act 1939 (1939 No 35).

Section 18(3): repealed, on 6 October 1939, by section 7(6) of the Land Laws Amendment Act 1939 (1939 No 35).

Section 18(4): repealed, on 26 November 1948, by section 3(5) of the Forests Amendment Act 1948 (1948 No 56).

Section 18(5): repealed, on 26 November 1948, by section 3(5) of the Forests Amendment Act 1948 (1948 No 56).

19 Abolition of Cheviot Estate Account
[Repealed]

Section 19: repealed, on 1 April 1949, by section 185(1) of the Land Act 1948 (1948 No 64).

20 Special provision with respect to cost of administration of Hutt Valley Lands Settlement Act 1925
[Repealed]

Section 20: repealed, on 10 May 1932, by section 11(6) of the Finance Act 1932 (1932 No 11).

21 Fixing amount to be paid by Taieri River Trust in respect of works carried out by Minister of Public Works under section 17 of Appropriation Act 1923

Whereas by section 17 of the Appropriation Act 1923, as extended by section 30 of the Finance Act (No 2) 1927, provision is made for the expenditure, out of the Public Works Fund, of sums not exceeding a total of 215,000 pounds on remedial and protective works on behalf of the Taieri River Trust:

And whereas by the said sections the Taieri River Trust is required to repay to the Public Works Fund one-half of the cost of constructing the said works:

And whereas it has been agreed that the Taieri River Trust shall not be required to repay more than the sum of 76,000 pounds.

Be it therefore enacted as follows:

Notwithstanding anything to the contrary in the said section 17 of the Appropriation Act 1923, and the said section 30 of the Finance Act (No 2) 1927, the total sum to be repaid to the Public Works Fund by the Taieri River Trust in respect of the said works shall be the sum of 76,000 pounds.

22 Validating payment of £5,200 by Waimarino Relief Association to the General Purposes Relief Account
[Repealed]

Section 22: repealed, on 14 September 1938, by section 44(5) of the Finance Act 1938 (1938 No 13).

23 Taxation in respect of certain race meetings may be remitted and amount thereof applied for relief of unemployment
[Repealed]

Section 23: repealed, on 1 January 1955, by section 175(1) of the Stamp Duties Act 1954 (1954 No 52).

24 Section 8 of Finance Act 1925, amended. Consequential repeals
[Repealed]

Section 24: repealed, on 11 November 1931, by section 20(3) of the Finance Act (No 4) 1931 (1931 No 44).

25 Special provision with respect to assessment of taxable income of renters of cinematograph-films in certain cases

Where the Commissioner of Taxes is satisfied, after an examination of the accounts of any renter engaged in the business of renting cinematograph films, that the value of such films taken as the cost of the films in such accounts exceeds the value of the films as assessed or declared for the purposes of the collection of primage duty under section 15 of the Customs Amendment Act 1921, or under that section as amended by section 2 of the Customs Amendment Act 1929, or upon which primage duty has been paid, the Commissioner may, if he thinks fit, with the approval of the Minister of Finance, assess the taxable income of such renter derived from the renting of cinematograph films during the period beginning on 1 April 1929, and ending on 30 June 1930, as if the cost of such films were the value so declared or assessed for the purposes of primage duty or the value upon which primage duty has been paid, and in such case the provisions of section 40 of the Cinematograph Films Act 1928, shall not apply with respect to the income-tax payable by such renter.

26 Fees for licenses under section 67 of Cemeteries Act 1908
[Repealed]

Section 26: repealed, on 1 April 1965, by section 61(1) of the Burial and Cremation Act 1964 (1964 No 75).

27 Provision for recess travelling-allowance for Speakers of the Legislative Council and the House of Representatives
[Repealed]

Section 27: repealed, on 1 January 1951, by section 29(1) of the Civil List Act 1950 (1950 No 99).

28 Extending privileges of wives of South Island members of the General Assembly with respect to steamer tickets
[Repealed]

Section 28: repealed, on 6 July 1943, by section 15(d) of the Finance Act (No 2) 1943 (1943 No 9).

29 Repealing section 31 of Finance Act 1924 (relating to appointment of Commissioner for New Zealand in Canada and the United States)

(1)

Amendment(s) incorporated in the Act(s).

(2)

John William Collins, the person heretofore appointed pursuant to that section to be Commissioner for New Zealand in Canada and the United States of America, shall for all purposes be deemed as from the date of such appointment to have been appointed as a member of the Public Service to hold, subject to the Public Service Act 1912, the office of New Zealand Trade and Tourist Commissioner in Canada and the United States of America.

30 Amalgamation of Department of Industries and Commerce, Department of Tourist and Health Resorts, and Publicity Branch of Internal Affairs Department
[Repealed]

Section 30: repealed, on 1 April 1957, by section 21(1) of the Industries and Commerce Act 1956 (1956 No 50.

31 Authorizing payments to members of Parliament of New Zealand in respect of their services as members of certain Commissions and Committees, etc

The provisions of the Legislature Act 1908, or the Electoral Act 1927, shall not apply to any payments which, under the authority of any appropriation made by Parliament, are received by any member of the Parliament of New Zealand in respect of his services as a member of—

(a)

a Commission under the Commissions of Inquiry Act 1908, appointed on 16 June 1930, to inquire and report as to the possibilities of increasing the revenue and decreasing the expenditure of the New Zealand Railways:

(b)

a Committee appointed by the Government on 24 January 1930, to investigate the provisions of the Shops and Offices Act 1921-22, and its amendments; or

(c)

a Committee appointed by the Government on 15 January 1930, or a Commission under the Commissions of Inquiry Act 1908, appointed on 26 April 1930, to inquire into and report upon the statutes relating to compensation for accidents to workers:

(d)

the Recess Education Committee appointed by resolution of the House of Representatives on 8 November 1929:

(e)

the New Zealand Delegation to the International Labour Conference held at Geneva in the year 1930.

Section 31 heading: amended, on 1 January 1987, by section 29(2) of the Constitution Act 1986 (1986 No 114).

Section 31: amended, on 1 January 1987, by section 29(2) of the Constitution Act 1986 (1986 No 114).

32 Section 30 of Public Works Act 1928, amended.
[Repealed]

Section 32: repealed, on 1 February 1982, by section 248(1) of the Public Works Act 1981 (1981 No 35).

33 Extending powers of Minister in Charge of Tourist and Health Resorts
[Repealed]

Section 33: repealed, on 23 December 1977, by section 2(2)(b) of the Tourist and Health Resorts Control Amendment Act 1977 (1977 No 177).

34 Constituting office of Under-Secretary of Defence. Powers and duties of Commandant of the Forces
[Repealed]

Section 34: repealed, on 6 November 1937, by section 3(3) of the Army Board Act 1937 (1937 No 9).

Part 2 Pensions, superannuation, and relief funds

35 Abolishing time-limit with respect to attributability of death or disablement to war service

Amendment(s) incorporated in the Act(s).

36 Extending benefits of Coal-miners Relief Fund to co-operative workers
[Repealed]

Section 36: repealed, on 26 November 1953, by section 26(1) of the Coal Mines Amendment Act 1953 (1953 No 105).

37 Repeal. Special provision as to computation of pensions in cases where applicant and wife or husband of applicant are in receipt of war pensions

Amendment(s) incorporated in the Act(s).

38 Making further provision with respect to payments out of Coal-mining Accident Fund

(1)

Notwithstanding anything to the contrary in the Kaitangata Relief Fund Transfer Act 1892, or any other Act, the Minister of Mines, on the application of any person being a child of a miner who lost his life in the Kaitangata mining disaster and on being satisfied that the applicant is in necessitous or indigent circumstances, may, by writing under his hand, direct the Public Trustee to pay out of moneys standing to the credit of the Coal-mining Accident Fund such sum or sums as the Minister specifies, and either to pay such sum or sums to such applicant, or to apply the same for and towards the maintenance and support of such applicant in such manner as the Public Trustee shall think fit.

(2)

Before exercising the powers conferred by this section, the Minister may require any applicant for relief to furnish such evidence by statutory declaration or otherwise as the Minister may require to establish the relationship of the applicant to a miner who lost his life as aforesaid, and his need for assistance.

(3)

The Minister may by writing under his hand direct the Public Trustee to discontinue, or to increase, or. reduce any payments being made under the provisions of this section.

(4)

The Public Trustee shall act upon every such direction of the Minister, according to the tenor thereof.

39 Special provision with respect to retiring allowances out of Public Service Superannuation Fund to certain members of Defence Forces and clerical officers of Defence Department
[Repealed]

Section 39: repealed, on 1 April 1948, by section 91(1) of the Superannuation Act 1947 (1947 No 57).

40 Special provision with respect to service of T N Johnson for purposes of Public Service Superannuation Act 1927

Whereas Thomas Newbegin Johnson was by Warrant under section 7 of the Post and Telegraph Department Act 1918, removed from office as from 20 February 1929, but was reappointed to that Department on 8 January 1930:

And whereas in the particular circumstances of his case it is deemed equitable to make provision as hereinafter appears with respect to his rights as a contributor to the Public Service Superannuation Fund:

Be it therefore enacted as follows:

For all the purposes of the Public Service Superannuation Act 1927, the said Thomas Newbegin Johnson shall be deemed not to have been removed from office as aforesaid, but to have been absent from duty on special leave without pay from 20 February 1929, to 7 January 1930 inclusive.

41 Special provision with respect to service of M B Esson as a member of the Post and Telegraph Department

For all the purposes of the Post and Telegraph Act 1928, and the Public Service Superannuation Act 1927, Melvin Brown Esson, Esquire, New Zealand Representative on the Imperial Communications Advisory Committee at London, and formerly Second Assistant Secretary of the Post and Telegraph Department, shall be deemed to have continued to be an officer of that Department up to and including 4 November 1929.

Part 3 Swamp Drainage amendment

42 This Part to be deemed part of Swamp Drainage Act 1915.
[Repealed]

Section 42: repealed, on 29 June 1988, by section 209(1) of the Rating Powers Act 1988 (1988 No 97).

43 Section 2 of Swamp Drainage Amendment Act 1928, amended
[Repealed]

Section 43: repealed, on 29 June 1988, by section 209(1) of the Rating Powers Act 1988 (1988 No 97).

44 Reducing capital expenditure chargeable against Kaitaia Town District subdivision of Kaitaia Drainage Area
[Repealed]

Section 44: repealed, on 23 December 1977, by section 3(2)(a) of the Swamp Drainage Amendment Act 1977 (1977 No 177).

45 Reducing capital expenditure chargeable against Kaitaia Rural subdivision of Kaitaia Drainage Area
[Repealed]

Section 45: repealed, on 23 December 1977, by section 3(2)(a) of the Swamp Drainage Amendment Act 1977 (1977 No 177).

Part 4 Local authorities and public bodies

46 Authorizing Harbour Boards to make grants to certain unemployment funds

It shall be and be deemed to have been lawful for any Harbour Board to expend, out of its revenue not later than 30 September, 1931, any sum or sums of money for the purpose of contributing towards any fund established by any City or Borough Council, County Council, Town Board, or Road Board for the relief of unemployment.

47 Provision with respect to contributions by local authorities to British Empire Cancer Campaign Society
[Repealed]

Section 47: repealed, on 11 November 1931, by section 52(3) of the Finance Act (No 4) 1931 (1931 No 44).

48 Provision with respect to contributions by local authorities towards establishment of Chair of Obstetrics and Gynaecology

(1)

It shall be and be deemed to have been lawful for any local authority to expend, out of its general fund not later than 31 March 1931, any sum or sums of money for the purpose of contributing towards the fund raised by the New Zealand Obstetrical Society for the endowment of a Chair of Obstetrics and Gynaecology at the University of Otago.

(2)

In this section “local authority” means any City or Borough Council, Town Board, County Council, Road Board, Harbour Board, or Electric-power Board.

49 Authorizing certain local authorities to contribute to Wellington Branch of New Zealand Free Ambulance Transport Service

All local authorities mentioned hereunder are hereby authorized and empowered to pay to the New Zealand Free Ambulance Transport Service (Wellington Branch), Incorporated, in the year ending 31 March 1931, such sums as they think fit, not exceeding m any case the respective amounts hereinafter specified—namely, the Lower Hutt Borough Council, £200; the Petone Borough Council, £210; the Upper Hutt Borough Council, £100; the Eastbourne Borough Council, £50; the Hutt County Council, £150; the Makara County Council, £86; the Johnsonville Town Board, £27; the Wellington Harbour Board, £300; the Wellington Hospital Board, £1,000; and the Wellington City Council, £500.

50 Authorizing Auckland Electric-power Board to establish an Imprest Account
[Repealed]

Section 50: repealed, on 20 October 1978, by section 111 of the Auckland Electric Power Board Act 1978 (1978 No 11 (L)).

51 Validating expenditure by local bodies in farewelling Their Excellencies Sir Charles and the Lady Alice Fergusson and receiving Their Excellencies Lord and Lady Bledisloe

(1)

It shall be and be deemed to have been lawful for any local authority to expend out of its General Fund any sum or sums of money in connection with public functions of farewell to Their Excellencies General Sir Charles Fergusson and the Lady Alice Fergusson and public functions of welcome to Their Excellencies Lord and Lady Bledisloe.

(2)

For the purposes of this section the term “local authority” means any City or Borough Council, County Council, Road Board, Town Board, Harbour Board, Education Board, Tramway Board, or Hospital Board.

52 Extension of overdraft facilities for Otago Electric-power Board

Whereas the Otago Electric-power Board, by virtue of the powers conferred by section 70 of the Electric-power Boards Act 1925, has borrowed money from its bankers by way of overdraft:

And whereas it appears that the Board will not be able to meet its liabilities, including interest and sinking fund charges, if required to restrict the amount borrowed or owing by it, by way of bank overdraft within the limits laid down by the Local Bodies’ Finance Act 1921–22, as varied by section 70 of the Electric-power Boards Act 1925.

Be it therefore enacted as follows:

(1)

Notwithstanding anything to the contrary in the Local Bodies’ Finance Act 1921–22, or in section 70 of the Electric-power Boards Act 1925, it shall be lawful for the Otago Electric-power Board to borrow moneys from its bankers by way of overdraft, or from any other person or persons, but so that the amount owing under this section from time to time (exclusive of moneys borrowed under section 53 of the Electric-power Boards Act 1925) shall not exceed—

(a)

at the end of the fifth complete financial year after the Board has commenced the supply of electrical energy, 7% of its aggregate capital expenditure as at the end of that year:

(b)

at the end of the sixth such year, 7% of its aggregate capital expenditure as at the end of that year:

(c)

at the end of the seventh such year, 6% of its aggregate capital expenditure as at the end of that year:

(d)

at the end of the eighth such year, 4% of its aggregate capital expenditure as at the end of that year:

(e)

At the end of the ninth such year, 2% of its aggregate capital expenditure as at the end of that year.

(2)

In the tenth such year after the said Board has commenced the supply of electrical energy as aforesaid, and in every year thereafter, the powers of the said Board to borrow by way of bank overdraft, or otherwise than under section 53 of the Electric-power Boards Act 1925, shall be limited to the powers conferred by section 3 of the Local Bodies’ Finance Act 1921–22.

53 Special provision as to expenditure of income of Akaroa and Westland High School Boards

Whereas neither the Akaroa High School Board, constituted under the provisions of the Akaroa High School Act 1881, nor the Westland High School Board, constituted under the Westland High School Act 1883, has established a secondary school:

And whereas the Council of Education has, pursuant to the provisions of subsection (2) of section 87 of the Education Act 1914 advised the Minister of Education to direct that the income of the said Boards shall be devoted to the maintenance of the secondary departments of the Akaroa District High School and the Hokitika District High School respectively.

Be it therefore enacted as follows:

(1)

The income of the Akaroa High School Board or such part thereof as the Minister of Education from time to time directs shall be paid to the Education Board of the District of Canterbury, and shall be applied towards the payment of the salaries of the teachers in the secondary department of the Akaroa District High School.

(2)

The income of the Westland High School Board or such part thereof as the Minister of Education from time to time directs shall be paid to the Education Board of the District of Canterbury, and shall be applied towards the payment of the salaries of the teachers in the secondary department of the Hokitika District High School.

(3)

[Spent]

References to the Westland High School Board were substituted for references to the Hokitika High School Board, and to the Westland High School Act 1883 for the Hokitika High School Act 1883, by section 2(2)(c) and (a) respectively of the Westland High School Amendment Act 1963. The Amending Act also changed Hokitika High School to Westland High School but did not mention Hokitika District High School.

54 Contributions by local authorities towards cost of subways, bridges. or railway-bridges may be paid by instalments
[Repealed]

Section 54: repealed, on 21 October 1949, by section 121(1) of the Government Railways Act 1949 (1949 No 40).

Part 5 Miscellaneous

55 Extending power of saving-banks to invest funds in war loans

The authority conferred by subsection (2) of section 75 of the Finance Act 1917 on the trustees of any savings-bank to in vest the whole or any part of the funds of the bank in securities issued in respect of loans for war purposes is hereby extended, and shall be deemed to have been so extended as from the passing of that Act, to enable such trustees to invest such funds in securities issued—

(a)

in respect of loans heretofore raised or that may hereafter be raised for the repayment of any war-purposes loan, whether the same was raised under the War Purposes Loan Act 1917, or any other Act authorizing the raising of loans for war purposes;

(b)

in renewal, or redemption, or conversion of securities issued in respect of any such war-purposes loan; or

(c)

from time to time in renewal, redemption, or conversion of any such securities as aforesaid.

56 Statements accident insurance companies to be certified
[Repealed]

Section 56: repealed, on 23 December 1977, by section 2(2)(b) of the Accident Insurance Companies Amendment Act 1977 (1977 No 139).

57 Validating issue of licenses to use the totalizator at race meetings held in aid of earthquake and unemployment relief funds

The licenses to use the totalizator at race meetings issued by the Minister of Internal Affairs to the Auckland Trotting Club in respect of a race meeting held on 31 August 1929, and to the Canterbury Park Trotting Club in respect of the combined Christchurch Trotting Clubs’ race meeting held on 14 September 1929, both of which meetings were held to raise funds for the relief of sufferers from the earthquakes which occurred in New Zealand during the month of June 1929, and to the Forbury Park Trotting Club in respect of a race meeting held on 5 and 7 June 1930, to raise funds for the relief of unemployment, are hereby declared to have been validly issued.

58 Validating donation by Auckland Savings-bank Trustees to Auckland Returned Soldiers’ Association Provincial Roll of Honour Fund

The payment during the financial year ended 31 March 1930, by the trustees of the Auckland Savings-bank, being a savings-bank constituted under the Savings-banks Act 1908, of a sum of 100 pounds, out of the surplus profits of the bank, to the fund known as the Auckland Returned Soldiers’ Association Provincial Roll of Honour Fund, is hereby validated and declared to have been lawfully made.

59 Validating rates of salary and allowances being paid to Herbert John Moore-Jones as a member of the Education service

Whereas Herbert John Moore-Jones held the position of Headmaster at the Matamata District High School until 31 October 1925:

And whereas on the said school being constituted from 1 November 1925, a junior high school, it was deemed expedient that a Headmaster having higher qualifications should be appointed:

And whereas it was deemed equitable that the said Herbert John Moore-Jones, on being transferred to a position to which was attached salary and allowances at a lower rate than the rate received by him in his position as Headmaster of the Matamata District High School (there being no position of equal standing to which he could have been transferred), should not suffer a reduction in salary and allowances.

Be it therefore enacted as follows:

Notwithstanding anything to the contrary in the Education Act 1914, or in any regulation thereunder, it shall be and always be deemed to have been lawful to pay to the said Herbert John Moore-Jones while holding a position in the Education service inferior to that held by him at 31 October 1925, salary and allowances at the same rate as was being paid to him on that date

60 Validating payment to T D Pearce on retirement from Education service

Payment of salary for the period of 3 months’ leave granted to Thomas Duncan Pearce on his retirement from the position of Principal of the Southland Boys’ High School is hereby validated.

61 Section 44 of Building Societies Act 1908, amended
[Repealed]

Section 61: repealed, on 1 January 1966, by section 139(1) of the Building Societies Act 1965 (1965 No 22).

Eprint notes
1 General

This is an eprint of the Finance Act (No 2) 1930 that incorporates all the amendments to that Act as at the date of the last amendment to it.

2 About this eprint

This eprint is not an official version of the legislation under section 18 of the Legislation Act 2012.

3 Amendments incorporated in this eprint

Statutes Repeal Act 2017 (2017 No 23): section 3(1)