That the Government be authorised to join in the cost of construction and maintenance of a Pacific telegraph-cable; (2) that New Zealand co-operate with the Governments of Great Britain, Canada, New South Wales, Victoria, and Queensland in raising the required capital; (3) that a Board of Commissioners, selected by the contributing Governments, on which New Zealand shall have one representative, shall be empowered to raise the required capital for the construction, laying, and maintenance of the cable; (4) that the provisional Board, on which New Zealand shall have one representative, be empowered to invite tenders, arrange scheme of management and other preliminaries, with a view to preparing for legislation; (5) that the rates shall be unanimously agreed to at the outset, subsequent changes to be authorised by fixed majority of the Board of Commissioners; (6) that the cable shall be jointly owned and maintained by the contributing Governments; (7) that New Zealand shall join such of the Australian Colonies as are prepared to do likewise, upon the basis of a guarantee of four-ninths of the cost of construction and annual deficiency (if any) by such colonies, New Zealand’s proportion of the guarantee not to exceed in any case-one-ninth of the whole cost.