Treasury Bills Act of 1857 No 43a (NSW)

No. V.

An Act to authorize the issue of Treasury Bills.

[18th December, 1857.]

WH E R E A S we Y o u r Majesty 's most dutiful and loyal subjects Members of t h e Legislat ive Assembly of New South Wales in

t h e

P a r l i a m e n t assembled towards defraying the expense of cer ta in services specified and to be specified in cer ta in Acts a l ready passed or in th i s p resen t Session to be passed have resolved to g ran t to Y o u r Majes ty t h e s u m to be raised as hereinafter men t ioned Be i t therefore enacted by t h e Queen ' s Most Exce l len t Majesty by and wi th t h e advice and consent of t he Legis la t ive Council and Legislat ive Assembly of N e w South Wales in P a r l i a m e n t assembled and by the au tho r i t y of the same as follows :—

1. The t e r m Governor in Counci l whenever used here in shall

mean the Governor w i th t h e advice of t h e Execu t ive Council A n d w h e n any Governmen t officer is men t ioned here in t he person for t h e t ime be ing ac t ing for such officer and duly authorized so to act shall be also implied.

2. The Governor in Council m a y a t any t ime cause any n u m b e r of Treasury Bills t o be m a d e out by t h e Colonial Treasurer for any a m o u n t s of money not exceeding in t h e whole t he sum of four h u n d r e d t h o u s a n d pounds in m a n n e r and subject to t h e provisions hereinaf ter specified and contained.
3 . Al l such Treasury Bills shall be made out a t t h e Treasury in such m e t h o d and form and wi th such cheques indents and counter ­ foils as t h e Colonial Treasure r shall deem most safe and convenient A n d m a y conta in one common s u m or different sums in t he pr incipal moneys A n d shall be signed by such persons as t he Governor in Counci l shall direct and author ize besides t he Aud i to r Genera l by w h o m they shal l all be signed A n d t h e names of all o ther persons so author ized to s ign such Bills shal l be regis tered in t he Treasury and publ ished in t h e New South Wales Government Gazette before any Treasury Bills so s igned shall be issued.

4. Al l such Treasury Bills shall be n u m b e r e d consecutively

beg inn ing w i t h n u m b e r one and progress ing ar i thmet ica l ly by un i t s .

5. Al l pr inc ipa l sums to be conta ined in any such Treasury Bills shal l be chargeable upon and paid ou t of any loan or loans raised or to be raised unde r any Ac t or Acts of the Legis la ture of t h e Colony for t h a t purpose already passed or in th is present Session to be passed or out of any g r a n t or g r an t s in t ha t behalf m a d e or in t he present or n e x t ensu ing Session to be made .

7. I n case any such Treasury Bill shall be defaced by accident the Colonial Treasure r may cancel t h e same and cause a new Bill t o be made in t he Treasury in l ieu thereof and such cancelled Bill shall be filed in t h e Treasury A n d such new Bil l shall have t h e l ike cur­ rency and be in all respects subject to t h e same ru les methods and cont inuance

6. Al l such Treasury Bills shall bear da te on such days subse­ quen t ly to t he commencement of th i s A c t as t h e Governor and Coun­ cil shall direct A n d shall bear interest a t a ra te no t exceeding four- pence for every one h u n d r e d pounds by the day in respect of t h e whole moneys contained there in A n d such interes t shall be chargeable upon and paid out of any sum or sums of money which shall for paymen t of in te res t be or come to the credit of t he Consolidated Revenues of t h e Colony in t h e year one thousand e ight h u n d r e d and fifty-eight or in the n e x t succeeding year.

cont inuance a n d bear t he same n u m b e r date and pr inc ipa l s u m a n d

ra te of in teres t as such cancelled Bil l .

8. A n y such Treasury Bills after t h e expi ra t ion of twelve m o n t h s from the da te thereof may be tendered to and shall t oge the r

wi th t h e in teres t t hen due a n d payable the reon be received by a n y collector or o ther person author ized to receive any t ax du ty of Cus­ toms or excise revenue or supply and also to and by any person au thor ized to receive t h e purchase money for any l and sold by the Crown or any r en t or assessment payable in respect of any Crown land in or towards p a y m e n t of such t a x d u t y revenue supply purchase money r e n t or assessment and shall be allowed in t h e accounts of such collector or o ther person Provided t h a t no in te res t shall r u n or be allowed upon any Bil l so paid from a n d after t h e p a y m e n t and receipt thereof as aforesaid Provided also t ha t every person so pay ing any Treasury Bill for any such publ ic purpose shall i n t h e presence of such collector or other person wri te h i s own n a m e designat ion and address

and the da te of such p a y m e n t on the back of such Bill which	wr i t i ng
shall be a t tes ted by such collector or other person.

9. The Colonial Treasurer m a y from t ime to t ime issue a n d apply any sum or sums of money to arise from any such Treasury Bills to any service author ized to be defrayed by loan or loans to be raised u n d e r any A c t or Ac t s of Council or of Pa r l i amen t already passed or which du r ing the present Session may be passed which service shal l

n o t t h e n be fully provided for.

10. The Colonial Treasure r may direct all or any of t h e Trea­ sury Bil ls m a d e a n d issued under th i s A c t to be paid off and redeemed out of t h e moneys hereinbefore m a d e and declared applicable to such purpose a t such t ime and in such m a n n e r as shall be deemed most convenient a n d beneficial to t h e publ ic service.

1 1 . The Governor in Counci l m a y appoin t and give au thor i ty

to any fit person to pay off t h e moneys due upon such Treasury Bills a n d the Senior Officer so appointed shall have t he use and cus tody of t h e cheques inden ts and counterfoils from which such Bil ls have been cut in order to p reven t imposi t ion by counterfei t or forged Bills a n d all such cheques indents and counterfoils shall be delivered back in to t he Treasury when the corresponding Bills shal l have been paid off A n d every person so appoin ted shall be subject to t he control of t h e Colonial Treasurer and shall do all such acts in re la t ion to t he pay­ m e n t and custody of such Bills as shall be directed by such Treasurer .

12. The Colonial Treasurer m a y cont rac t in wr i t i ng wi th a n y

person to circulate a n d exchange a t h is own cost any such Treasury
Bills a t any publ ic office in Sydney or elsewhere in th i s Colony b u t only
for ready money a t least equal in amoun t to the pr incipal moneys con­ ta ined in and t h e in teres t due upon such Bills respectively A n d every

such cont rac t shal l be l imi ted to a t ime to be there in specified a n d

shall be registered in t h e office of t he Audi to r Genera l Provided t h a t as t h e considerat ion for such cont rac t t he Colonial Treasurer m a y the reby agree to pay to t h e other cont rac t ing pa r ty a commission a t such ra te as may be sanct ioned by t h e Governor in Counci l and may pay such commission accordingly out of any moneys applicable as aforesaid to t he paymen t and discharge of such Treasury Bills P r o ­ vided also tha t upon t h e due execut ion of any such con t rac t t he Colonial Treasurer may deliver to t he cont rac tor such a m o u n t of Treasury Bil ls as such Treasurer shall t h ink fit A n d such cont rac tor shall thereaf ter become chargeable and charged therewi th subject to such direct ions in wr i t i ng as shall be issued to h im by such Treasurer a n d shall only be discharged from all account in respect of such Treasury Bills on p rov ing to t h e satisfaction of t h e Audi to r Genera l t ha t h e has duly completed his con t rac t and obeyed the direct ions of

such

such Treasurer Provided fur ther t h a t no such Treasury Bills shall be so delivered except for t he purpose of ra is ing money to be paid to the credit of t h e Consolidated Revenues of the Colony.

13 . E x c e p t the commission aforesaid no fee r eward or g ra tu i ty

shall be demanded or taken direct ly or indirect ly from any person whomsoever for any th ing done unde r or by v i r tue of th is A c t by any officer appoin ted or authorized to act or in anywise ac t ing in any m a t t e r u n d e r or by v i r tue of this A c t or by any clerk or servant of any such officer.

14. The holder of any Treasury Bill shal l no t be a t l iber ty to d e m a n d and no person pay ing the in teres t upon such Bil l shall pay

any less sum in respect of such interes t t h a n one penny Provided t h a t when the interest of more Bills t h a n one shall be payable a t the same t i m e th is enac tmen t shall apply only to t he to ta l sum payable for in teres t on such Bills collectively.

15. Upon proof be ing made on oath before a J u d g e of t h e Supreme Cour t by any credible person t h a t any Treasury Bill issued under th is Ac t a n d held by h i m the n u m b e r and sum whereof shall be specified by h im in his evidence has been lost or accidental ly b u r n t or otherwise destroyed before t he same shall have been paid off a n d upon such J u d g e certifying t h a t he is satisfied with such proof t he Colonial Treasurer m a y cause a new Bill to be made in t he Treasury bear ing the same n u m b e r da te pr incipal sum and ra te of in teres t as t h e Bill so lost or destroyed and to be delivered to such person upon his giving sufficient securi ty to t he Colonial Treasurer to indemnify t h e Treasury agains t any double paymen t if t he miss ing Bill shall thereaf ter be presented for paymen t .

16. Al l Treasury Bil ls issued unde r th i s Ac t which shal l be

paid off and discharged and all defaced Bills as aforesaid shall be cancelled A n d after being so cancelled and t h e accounts thereof h a v i n g been audi ted a n d allowed and t h e cheques inden ts a n d counterfoils delivered back in to t h e Treasury all such Bills toge ther wi th such cheques inden ts and counterfoils shall be bu rned or otherwise des t royed

unde r t h e au tho r i t y of t he Colonial Treasurer .

17. E v e r y person who shal l forge fabricate or counterfeit wholly Bill u n d e r or according to th i s Ac t—or who shall forge

or in p a r t any paper wr i t i ng or i n s t r u m e n t pu rpo r t i ng to be a Treasury

counterfei t

al ter add to obl i terate or wilfully mu t i l a t e or deface any word le t te r or figure in or u p o n any such Treasury Bi l l—or who shall fill u p wi th any word le t te r or figure any b l ank space in or upon any such Treasury Bill whe the r issued or not and whether wholly or pa r t ly m a d e unde r

th is A c t or who shall u t t e r pass or negot ia te or a t t e m p t to u t t e r pass or negot ia te any such forged fabricated counterfei ted al tered added to obl i tera ted wilfully mut i l i a ted or defaced or filled u p Bill as afore­ said k n o w i n g the same to be so shal l be gui l ty of felony and shall be liable to the ex t r eme p u n i s h m e n t applicable by law to t h e cr ime of forgery.

18. This Ac t shall commence on t h e day of t h e pass ing thereof and shall be styled and m a y be cited as t he " Treasury Bills Ac t of 1857 . "

No . V I .