General Loan and Inscribed Stock Act 1884 Amendment Act 1888 (WA)

WESTERN AUSTRALIA

ANNO QUINQUAGESDIO SECUNDO

VICTOBT/Til REGINYE

No. 20

An Act to amend The General Loan and Inscribed Stock

Act, 1884.' [Assented to 7t/ December, 1888.

HEREAS it is expedient to amend 'The General Loan and

Inscribed Stock Act, 1884,' so as to afford greater facilities

for the conversion into Inscribed Stock of Western Australian Loans,

whether existing in the form of Debentures or Stock : Be it enacted by

His Excellency the Governor of Western Australia and its Dependen-

cies, by and with the advice and consent of the Legislative Council

thereof, as follows :-

Loan and Inscribed Stock Act, 1884,' as is indicated by the letter (a) -sst IT:1AM 1. That so much of the twenty-fourth section of ' The General Amendment of

placed in the margin thereto, be and is hereby repealed, and that there

be substituted therefor the words following :-

(a) In the case of that portion of Inscribed Stock created and exchanged for Debentures for the redemption of which Sinking Funds were already in operation, the said further appropriation shall commence at the date of the first issue of Inscribed Stock so created and exchanged.

Loan and Inscribed Stock Act, 1884,' as is indicated by the letter (a) .sie, 10.1448th 2. That so much of the twenty-ninth section of ' The General Amendment of

placed in the margin thereto, be and is hereby repealed, and that there

be substituted therefor the words following:

(a) He may from time to time declare all or any of the

Western Australian Loans, whether exist- Converdon of

ing in the form of Debentures or Stock, to Loans.

be convertible into Inscribed Stock of such

denominations and on such conditions as he may before

the creation thereof from time to time determine.

52 VICTORL'E. No. 20

General Loan and Inscribed Stock Act, 1884—Amendment

Further amend.

ment to 48 Vie., 3. That The General Loan and Inscribed Stock Act, 1884,' be

No. 4

further amended by the addition of the words following, to be and be

deemed to be Sections 33 and 34 of the said Act respectively :-

33. The Trustees of the Sinking Funds appointed

under the Acts authorising the issue of any Trustees to Debentures which may be exchanged or apportion converted into Inscribed Stock under the is'imro

provisions of this Act, shall determine what released by

amount of the Sinking Funds held by them conversion.

and created for the repayment of such Debentures shall be released ; and in the determination of such question the Trustees shall take into consideration the value of the whole investments held by them on account of such Sinking Funds, the amount of the debt remaining a charge on such Sinking Funds, and such other matters as the Trustees may think fit to take into account.

34. So much of the said Sinking Funds as may be

released shall be converted into money and S' hi rands

paid to the Crown Agents to the credit of re,easned Lulul

the Colony, to be disposed of in such to.be disposed

manner as the Governor, with the advice

and consent of the Legislative Council, may direct.

Repeal of the 4. The Schedule to The General Loan and Inscribed Stock Act,

Schedule to

48 Vic., No.4 1884,' shall be and is hereby repealed.

Application of 5. Anything directed by law to be done under The General Loan

this Act

and Inscribed Stock Act, 1884,' shall be done under the said Act as

amended by this Act.

Short title 6. This Act may be cited as The General Loan and Inscribed

Stock Act, 1884, Amendment Act, 1888.'

F. NAPIER BROOME,

GOVERNOR.