Treasury Bills Redemption Act 1904 (NSW)

Act No. 8, 1904.

Treasury Bills Redemption.

Act No. 8, 1904.

An Act to autliorisc the issue of Treasury Bills for ])urpose of the redem ption of Treasury Bills issued under the Treasury Bills Act of 1899 ; for the application of the moneys raised by such issue ; and for purposes cou- secpieut thereon or iucidoutal tliereto. [l.st

N()t)('mh(T, 1904.]

T ) E it enacted l)v the King’s Most Excellent Maj(;sty, by and with

the advice and consent of the Legislative Council and Legislative

Assemhlj" of New South Mvales in Parliament assembled, and by the

authority of the same, as follows :—•

Rrelimiuary.

1. This Act may he cited as the “ Treasury Bills Eedemption siiort title.

Act, 1904.”	In its construction “ Treasurer ” means Colonial Treasurer.
Issue of Bills and application o f proceeds.

2. 'Phe Governor may cause Treasury Bills to such amount as issue of Treasury

he may consider nccessaiw to he issued by the Treasurer in the manner purposes

and subject to the provisions of this Act for the purpose of providing

for the redemption of Treasury Bills issued under the Treasury Bills

Act of 1899.

3. All moneys raised by the issue of Treasury Bills under this A|>pUeaiioM of

Act shall he carried by the Treasurer to the General Loan Account,	’■•""' ii-
and shall he applicable to the purposes of redemption as aforesaid.

Supplemental.

4. All such Treasury Bills shall he made out at the Treasmy in nowBiiistobcmade

such method and form and with such cheques, indents, coupons,	out ami signed,
counterfoils as the Treasurer may deem most safe and convenient, and shall he signed by the Treasurer, the Auditor-General, and by such other persons as the Govi'rnor may authorise and direct. And the names of such other persons so to he authorised to sign such Bills shall he registered in the Treasury, and published in the Gazette before any Treasury Bills so signed arc issued.

5. All such Treasury Bills shall be numbered consecutively, Uow to be numbered,

beginning with number one and progressing arithmetically by units.

Act No. 8, 1904.

Treasury Bills Bedemplion.

ITow principal sums	6. All principal moneys for wliicli any such Treasury Bills may be; made out shall he chargeable upon, and paid out of, the General Loan Account. And so far as funds for the payment of any such principal sum have not, on the maturing of any such Bill, been provided by or become available under the General Loan Account, every such sum shall be chargeable upon, and paid out of, the Consoli­ dated llevenuc Lund.
lo bo paid.
l:^suc and payment	7. All such Treasury Bills shall bear such dates, have such currency, not in any ease to exceed five years, and be for such amounts as the Governor may direct, and shall bear interest payable half-yearly at a rate not exceeding live pounds per centum per annum. And such interest shall be ebargoablo upon and be paid out of the Consolidated Kevenue Lund.
of interest.
Defaced Dills may	8 . In case any such Treasury Bill is defaced l)y accident the Treasurer may cancel the same, and cause a new Bill to be made in the Treasury in lien thereof, and such cancelled Bill shall be filed in the Treasury. And such mnv Bill shall have the like currency, and be in all respects subject to the same rules, methods, and continuance, and hear the same number, date, and principal sum, and rate of interest as such cancelled Bill.
be exchanged.
Provision for Dills	9. Upon proof being inade on oath before a Judge of the Supreme Court by any credible person that any Treasury Bill issued under this Act and held by him, the number and sum whereof is specified Ijy him iu his evidence, has been lost or accidentally burnt or otherwise destroyed before the same has been paid off, and upon such Judge certifying that he is satisfied with such proof, the Treasurer may cause a new Bill to be made in the Treasury bearing the same number, date, princijial sum, and rate of interest as the Bill so lost or destroyed, and to he delivered to such person upon his giving sufficient security to the Treasurer to indemnify the Treasury against any double payment if the missing Bill should thereafter he presented for payment.
lost &e.
Cancelling of	10. All Treasury Bills issued under the authority of this Act which arc paid off and discharged, and all defaced Bills as aforesaid, shall he cancelled. And after being so cancidled, and tlio accounts thereof audited and allowed, and the cheques, indents, and counterfoils delivered hack into the Treasury, all such Bills, together with such cheques, indents, and counterfoils, shall he burned or otherwise destroyed under the authority of the Treasurer.
discharged Dills.
Power to trustees to	11. All Treasury Bills made out or issued under the authority of this Act shall he “ Government Securities ” within the meaning of the Act number four of one thousand eight hundred and ninety- eight (the Trustc'c Act of 1898) and of the Act thirty-seven Victoria number four or any Act in force for the time being relating to Lriendly Societies ; and all corporations, companies, or co-partnerships, and all
invest.

trustees,

Act No. 9, 1904.

Jla.sfer in Equity [Deputy).

1rusi('('s, executors, and adminisirators, wlietlicr incoi'poraicd, ('slab- lislu'd, or appointed before or after tbc passing of this Act not expressly forl)idd('n to imu'st their funds in tlu' ])nrcliascof Governnn'nt Stock or securities hy their chartei', Act of Incorporation, deed of settlenu'iil, or of partnershi]), trust, deed, stdlleinent, testamentary or otlier instru­ ment whatsoever res})ect ively, are lu'reby authoi'ised and empowered to invest such funds in the purchase of and to liold Treasuiw Jblls issued under or for tlie purposes of this Act witliont incurring or committing any breach of trust or of any condition, restriction, or provision contained in any such Act, charter, or other instrument whatsoever as aforesaid.