WHEREAS by the fifty-eighth section of “The Canterbury Rivers Act 1868” hereinafter referred to as “the said Act” it is provided that the sum or sums of money borrowed upon debentures under the said section of the said Act shall be repaid within a time to be named in such debentures not being for a longer period than fourteen years from the making thereof by equal annual or shorter instalments together with interest on the sum or sums so borrowed or taken up or on such part thereof as shall from time to time remain due and unpaid And whereas it is expedient that so much of the said section as requires repayment by equal annual or shorter instalments should be repealed