Act Repealed Latest version as at 11 November 1913 (as enacted) | 1913 No 20

Rangitaiki Land Drainage Amendment Act 1913

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Minister of Finance authorized to raise £50,000 for purposes of principal Act.

Rangitaiki Land Drainage Amendment Act 1913

Public Act		1913 No 20
Date of assent		11 November 1913

	Title
1	Short Title.
2	Minister of Finance authorized to raise £50,000 for purposes of principal Act.

An Act to amend the Rangitaiki Land Drainage Act, 1910.

BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:—

1 Short Title.

This Act may be cited as the Rangitaiki Land Drainage Amendment Act, 1913, and shall form part of and be read together with the Rangitaiki Land Drainage Act, 1910 (hereinafter referred to as the principal Act).

2 Minister of Finance authorized to raise £50,000 for purposes of principal Act.

(1.)

For the purposes of the principal Act the Minister of Finance, on being authorized by the Governor in Council so to do, may from time to time raise, 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 whole the sum of fifty thousand pounds.

(2.)

The sums so raised shall bear interest at such rate, not exceeding five per centum per annum, as the Minister of Finance prescribes.

(3.)

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

(4.)

The sums advanced by the Superintendent of the State Advances Office before the commencement of this Act under the authority of the principal Act shall be deemed to have been raised under this Act, and the total amount hereby authorized to be raised shall be reduced accordingly.

(5.)

All moneys raised under this Act shall be paid into the Rangitaiki Land Drainage Account, and shall be expended for the purposes of the principal Act under the direction of the Minister of Lands.

Consequential amendments of principal Act.

(6.)

The principal Act is hereby amended as follows:—

(a.)

By repealing section five:

(b.)

By omitting from section six the words “payment to the Superintendent of the instalments of the moneys advanced as aforesaid,” and substituting the words “repayment of the moneys so raised, together with the interest thereon”:

(c.)

By omitting from section seven the words “All moneys advanced by the Superintendent, and.”

Rangitaiki Land Drainage Amendment Act 1913