Cook Islands Amendment Act 1958

  • repealed
  • Cook Islands Amendment Act 1958: repealed, on 20 September 2007, by section 7(1) of the Cook Islands Amendment Act 2007 (2007 No 49).

Reprint
as at 20 September 2007

Cook Islands Amendment Act 1958

Public Act1958 No 47
Date of assent26 September 1958

  • Cook Islands Amendment Act 1958: repealed, on 20 September 2007, by section 7(1) of the Cook Islands Amendment Act 2007 (2007 No 49).

Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this eprint.

A general outline of these changes is set out in the notes at the end of this eprint, together with other explanatory material about this eprint.

This Act is administered in the Ministry of Foreign Affairs and Trade.

Contents

Title

1 Short Title

2  [Repealed]

3  [Repealed]

4  [Repealed]

5  [Repealed]

6  [Repealed]

7  [Repealed]

8  [Repealed]

9  [Repealed]

10  [Repealed]

11 Minister may enter into agreements

12  [Repealed]

Schedule

An Act to amend the Cook Islands Act 1915

1 Short Title

  • This Act may be cited as the Cook Islands Amendment Act 1958, and shall be read together with and deemed part of the Cook Islands Act 1915 (hereinafter referred to as the principal Act).

2

  • [Repealed]

    Sections 2 to 5 were repealed, as from 17 November 1964, by section 58 Cook Islands Amendment Act 1964 (1964 No 70).

3

  • [Repealed]

    Sections 2 to 5 were repealed, as from 17 November 1964, by section 58 Cook Islands Amendment Act 1964 (1964 No 70).

4

  • [Repealed]

    Sections 2 to 5 were repealed, as from 17 November 1964, by section 58 Cook Islands Amendment Act 1964 (1964 No 70).

5

  • [Repealed]

    Sections 2 to 5 were repealed, as from 17 November 1964, by section 58 Cook Islands Amendment Act 1964 (1964 No 70).

6

  • [Repealed]

    Section 6 was repealed, as from 5 December 1962, by section 19(2) Cook Islands Amendment Act 1962 (1962 No 40).

7

  • [Repealed]

    Sections 7 to 10 were repealed, as from 17 October 1960, by section 22 Cook Islands Amendment Act 1960 (1960 No 32).

8

  • [Repealed]

    Sections 7 to 10 were repealed, as from 17 October 1960, by section 22 Cook Islands Amendment Act 1960 (1960 No 32).

9

  • [Repealed]

    Sections 7 to 10 were repealed, as from 17 October 1960, by section 22 Cook Islands Amendment Act 1960 (1960 No 32).

10

  • [Repealed]

    Sections 7 to 10 were repealed, as from 17 October 1960, by section 22 Cook Islands Amendment Act 1960 (1960 No 32).

11 Minister may enter into agreements

  • (1) [Repealed]

    (2) The agreement signed by the Minister on the 21st day of March 1958 with the Cook Islands Co-operative Thrift and Loan Society Limited, a copy of which is set out in the Schedule to this Act, is hereby validated, and shall be as valid and effective for all purposes as if the Minister had had full power and authority at that time to sign the agreement.

    (3) Any payments made before the passing of this Act pursuant to the said agreement are hereby validated and declared to have been lawfully made.

    (4) [Repealed]

    Subsection (1) was repealed, as from 17 October 1960, by section 22 Cook Islands Amendment Act 1960 (1960 No 32).

    Subsection (4) was repealed, as from 17 October 1960, by section 22 Cook Islands Amendment Act 1960 (1960 No 32).

12

  • [Repealed]

    Section 12 was repealed, as from 17 November 1964, by section 58 Cook Islands Amendment Act 1964 (1964 No 70).

Schedule

Section 11(2)

  • Preamble

    An agreement made this 21st day of March One Thousand Nine Hundred and Fifty Eight by the COOK ISLANDS CO-OPERATIVE THRIFT AND LOAN SOCIETY LIMITED, a corporate body duly constituted and registered under the Cook Islands Co-operative Societies Regulations 1953 (hereinafter called the Grantee) of the one part AND HER MAJESTY THE QUEEN (hereinafter with Her successors referred to as the Grantor) of the other part WHEREAS the Grantee was duly registered as No 4/55 on the 21st day of November 1955 AND WHEREAS at the time of such registration bylaws of the Grantee were duly promulgated AND WHEREAS pursuant to regulation 52 of the said regulations rules by the Resident Commissioner of Rarotonga have been duly made and publicly notified AND WHEREAS the Grantee pursuant to bylaw No 36 is enabled (subject to the approval of the Registrar) to fix in general meeting the amount which the Society may from time to time borrow AND WHEREAS on the 2nd day of October 1957 such general meeting of the Grantee resolved to fix the last mentioned amount at five thousand dollars ($5,000) from outside sources AND WHEREAS the Grantor and the Grantee have embarked upon a scheme for the improvement of the housing conditions of (inter alia) members of the Grantee or so many thereof as require the same and can qualify accordingly AND WHEREAS the Grantee has not sufficient resources to provide all the monies likely to be required for such advances AND WHEREAS the Grantor has offered to lend the Grantee certain monies upon the conditions herein appearing and the Grantee has accepted such an offer

    NOW THIS AGREEMENT WITNESSETH—

1

  • The Grantor will advance on loan to the Grantee and the Grantee will accept on loan from the Grantor the sum of five thousand dollars ($5,000).

2

  • Such sum of $5,000 will be advanced by the Grantor to the Grantee as follows and subject to conditions hereinafter appearing during the period ending on the 31st day of March 1958.

3

  • Such monies shall be repaid to the Grantor by the Grantee as follows:

    In equal annual instalments of $500 spread over 10 years due on the 31st day of March of each year and commencing on the 31st day of March 1959.

4

  • Interest on any monies oustanding shall be paid by the Grantee to the Grantor at the rate of $3 percent per annum and shall be computed as from the date of advance thereof by the Grantor to the Grantee and shall be payable quarterly on the last days of March, June, September and December in each and every year during the currency of this agreement and in the case of broken periods of interest shall be payable at the end of the quarter following such advance. In all cases there shall be deemed to be a compliance with this clause if such amounts of interest are paid on or within 14 days after the said respective quarterly dates.

5

  • The Grantee undertakes to use and apply the money from time to time advanced to it by the Grantor pursuant to this agreement for the sole and exclusive purpose of re-advancing to its registered members who duly qualify for loans for housing under the terms of the bylaws of the Grantee. If the Minister of Foreign Affairs shall impose any conditions on the advancing by the Grantor of monies to the Grantee then such conditions shall so far as they shall apply be incorporated in the conditions to be imposed by the Grantee in respect of its re-advances to its members.

    In clause 5 the words “the Minister of Foreign Affairs” were substituted, as from 8 November 1974, for the words “the Minister of Island Affairs” pursuant to section 2(4)(a) Cook Islands Amendment Act 1974 (1974 No 80). This should now be read as a reference to the Ministry of Foreign Affairs and Trade.

6

  • The Grantee shall in its advances to its members of money subject to this agreement not charge its members with interest in excess of the rate of $5 percent per annum.

7

  • Monies required by the Grantee to be advanced by the Grantor shall be requisitioned by the Grantee in writing. Such requisition shall be made in such manner and the monies received shall be applied so that the commencement date of loans from time to time made by the Grantee to its members shall be contemporaneous with the several dates of advance for that purpose made by the Grantor to the Grantee and not later to the intent that as the Grantee shall be debited with interest by the Grantor so shall interest commence to run against a member-borrower in favour of the Grantee.

8

  • During the terms of this Agreement the Grantee shall furnish (forthwith after receipt thereof) to the Grantor a duly certified copy of each annual audit report supplied through the Registrar of Co-operative Societies pursuant to regulation 36 of the Co-operative Societies Regulations 1953.

9

  • If on any of the several dates provided herein for payment thereof of either principal monies or interest the sums herein agreed to be paid by the Grantee to the Grantor under the terms of this Agreement shall be unpaid then such sums and each of them shall be recoverable as sums due to the Crown pursuant to regulation 53 of the Co-operative Societies Regulations 1953.

10

IN WITNESS WHEREOF this agreement has been executed the day and year first herein written.

THE COMMON SEAL of THE COOK ISLANDS CO-OPERATIVE THRIFT AND LOAN SOCIETY LIMITED was hereto affixed by and in the presence of the Secretary thereof pursuant to a meeting of a Committee him thereto authorising and in the presence of 3 members of the said Committee:—

.

Contents

  • 1General

  • 2About this eprint

  • 3List of amendments incorporated in this eprint (most recent first)

Notes
1 General

  • This is an eprint of the Cook Islands Amendment Act 1958. It incorporates all the amendments to the Cook Islands Amendment Act 1958 as at 20 September 2007. The list of amendments at the end of these notes specifies all the amendments incorporated into this eprint since 3 September 2007. Relevant provisions of any amending enactments that contain transitional, savings, or application provisions are also included, after the Principal enactment, in chronological order.

2 About this eprint

  • This eprint has not been officialised. For more information about officialisation, please see "Making online legislation official" under "Status of legislation on this site" in the About section of this website.

3 List of amendments incorporated in this eprint
(most recent first)

  • Cook Islands Amendment Act 2007 (2007 No 49): section7(1)