This Part of this Act shall continue in operation until the close of the fourteenth day of October, nineteen hundred and nine, and no longer.

While this Part of this Act continues in operation, sections thirty-seven and thirty-eight of the Public Revenues Act, 1908 (relating to extended appropriations), shall be read and shall operate as if the following amendments had been made therein as from the thirty-first day of March, nineteen hundred and nine:—

This Act, notwithstanding anything contained therein, shall not be deemed to be an Act granting and appropriating money within the meaning and for the purposes of section thirty-seven of the Public Revenues Act, 1908.

While this Part of this Act continues in operation, section forty-eight of the Public Revenues Act, 1908 (relating to unauthorised expenditure), as amended by section twenty-three of the Appropriation Act, 1908, shall be read and shall operate as if the following amendments had been made therein as from the thirty-first day of March, nineteen hundred and nine:—

This Act shall be deemed to be an authorising Act within the meaning of the New Zealand Loans Act, 1908, and the moneys hereinafter authorised to be raised shall be raised under and subject to the provisions of that Act accordingly.

The Minister of Finance is hereby empowered to raise, on the security of and charged upon the public revenues of New Zealand, such sums of money, not exceeding in the whole the sum of one million two hundred and fifty thousand pounds, as he thinks fit.

The sums so raised shall bear interest at such rate (not exceeding four and a half per centum per annum) as the Minister of Finance prescribes.

All moneys so raised shall, as and when raised, be paid into the Public Account to the credit of the Public Works Fund, and shall from time to time be applied to the works and purposes specified in the Schedule hereto, in such amounts as are from time to time appropriated by Parliament:

Provided that any of the aforesaid moneys available for specific roads or bridges may from time to time, without further authority than this Act, be paid over in whole or in part to the local authority in whose district the works are situate, or under whose control such works are usually performed, upon such terms and conditions as in each case the Minister in charge determines by agreement with that local authority:

Provided also that during the period ending on the close of the fourteenth day of October, nineteen hundred and nine, any moneys so raised under the authority of this Act may from time to time be issued and applied to the works and purposes specified in the Schedule hereto, in accordance with and under the authority of section thirty-seven of the Public Revenues Act, 1908, as amended by Part I of this Act:

Provided also that during the period so ending on the fourteenth day of October, nineteen hundred and nine, the sum of one hundred thousand pounds allocated to the purchase of Native lands in the Schedule hereto, together with the sum of fifty thousand pounds (being part of the sum of three hundred thousand pounds allocated to land settlement and goldfields development in the said Schedule), may be issued and applied to those purposes without further appropriation than this Act.

In addition to the sums hereinbefore authorised to be raised, and in addition to the amount authorised to be raised by section forty-eight of the Government Railways Act, 1908, the Minister of Finance is hereby empowered from time to time to raise, on the security of and charged upon the public revenues of New Zealand, for the purposes authorised by the said section forty-eight of the Government Railways Act, 1908, such sums of money as he thinks fit, not exceeding in the whole the sum of seventy-five thousand pounds.

The sums so raised shall bear interest at such rate, not exceeding four and a half per centum per annum, as the Minister of Finance prescribes, and shall be raised under and subject to the provisions of the New Zealand Loans Act, 1908.

All moneys raised under the authority of this section shall be paid into the Public Account to the credit of the separate account established by section forty-eight of the Government Railways Act, 1908, and all moneys expended on the improvements authorised by that section shall from time to time be paid out of that separate account without further appropriation than this Act.