Water Authorities Act Amendment Act of 1921 (12 Geo v No. 11) (Qld)

9800 WATER SUPPLY. Water Authorities Act Amendment Act. 12 GEO. V. No. 11, WATER SUPPLY. 12 Geo. V. An Act to Amend" The Water Authorities Act No. ll. THE WATER of 1891" in certain particulars. AUTHO· RITIES ACT [ASSENTED TO 31sT OCTOBER, 1921.] A;\lENDMENT ACT OF 1921. BE it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legis- lative Council and Legislative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows :- Short tith~ 1. This Act may be cited as " The Water Authorities ~ ~ ! truotioIl Act Amendment Act ot 1921," and shall be read as onc of Aot. with *" The Water Authorities Act ot 1891 " (herein referred to as the Principal Act). 2. After section one hundred and sixty-three of the Principal Act the following sections are inserted:- Applicat.ion "[163A.] A 'Vater Authority may make application to dtoebseenlltures. the Governor in Council for permission to borrow money for the purposes of this Act by the sale of debentures, and the Governor in Council may grant such permission. Issue of Every such permission shall be signified by an Order debentur"s. in Council published in the Gazette, and such Order in Council shall declare the amount that may be so borrowed, the purposes for which the same shall be borrowed, the currency of the debentures, and the rate of interest payable thereon. Moreover, any such permission may be granted without conditions or subject to the condition of providing a proper sinking fund, or subject to the condition that a proportion of the principal money shall be repayable at stated .intervals during the currency of the debentures, and to such other conditions ·as the Governor in Council may impose. Conditions, [163B.] Subject to this Act, such debentures shall be d&ecb. , cnoifures. issued in such series, at such time, and in such manner as the Water Authority may decide, and shall be a charge upon all the rates and revenues of the Water Authority howsoever arising, subject to any prior debentures issued according to law. * 55 Vie. No. ll, supra, page 3536

WATER SUPPLY. 9801 1921. Water Authorities Act Amendment Act. Such debentures shall bear interest at the rate pre- scribed in the Order in Council. Every such debenture shall be under the seal of the \Vater Authority, and shall be signed by the chairman and clerk, and when so sealed and signed shall be deemed to have been duly issued, and the holder thereof shall not be bound to inquire whether such issue was in fact duly authorised. [1630.] Every such debenture shall specify the time 'rime and when or within which the principal shall be payable and pla:e of the place where the principal and interest shall be .pay- payment, able, and shall be in the form prescribed by the Governor in Council, and may have annexed thereto for every payment to grow due thereon a coupon. Every such debenture and coupon (if any), unless otherwise authorised by the Governor in Council, shall be transferable by delivery. [163D.] The Water Authority may authorise the sale Debentures or disposal of an • y such . debentures in Queensland, or in s m o a\ ( Yl I · n be places beyond Queensland, and may appoint an agent or Queensland agents to negotiate such sale or disposal. or elsewhere. [163E.] The moneys raised by the sale of such deben- Application tures, or such portion thereof as may be found necessary of moneys. for the purpose, shall be expended for the purposes declared in the Order in Council, and in the proportions, if any, therein specified and not otherwise. [163F.] The holder of any such debenture shall be Payment of entitled to receive payment from the ';Vater Authority of : ~ ~ ~ ~ ~ ~ : ~ t. the principal sum named therein (and; if interest coupons are not annexed, interest in terms of the debenture) upon presentation of such debenture, on or after the due date thereof, at the place where the same is expressed to be made payable. And the holder of any coupon originally annexed to a debenture, and whether separated therefrom or not, shall be entitled to receive payment in like manner of the interest mentioned in such coupon upon presenta- tion of the same at the place where, and on or after the date when, interest is payable. [1630.] If default is made by the Water Authority in Provisions makm' g any payment , w1lether 0 f prm. C.lpa I or I . nt erest ( or poanydmefeanut. lt of of principal and interest, as the case may be), to the holder

9802 WATER SUPPLY. - ---- --- - - - - - - - - - Water Authorities Act Amendment Act. 12 GEO. V. No. 11, of any debenture or coupon, the following provisions shall take effect :- (i.) The holder of such debenture or coupon shall be entitled to make application to and pro- cure all necessary orders and directions from the Supreme Court for the appointment of a Receiver, and such Court shall have power to make all such orders for the appointment of a Receiver, or for his removal and the appoint- ment of another in his place, as may be neces- sary, and to make any orders and give any directions which such Court may think proper. And such Receiver shall be deemed to be an officer of such Court. . (ii.) Subject to this Act, the Receiver shall have power to make, levy, and collect all rates and other moneys authorised to be made, levied, or collected by the Water Authority, and shall be entitled to receive all rates and revenues whatsoever payable to the 'Vater Authority; and for such purposes such Receiver shall be deemed to be the Water Authority, and may exercise all the powers thereof. . (iii.) The Receiver shall be entitled to such commis- sion, payable out of the revenues of the Water Authority, as remuneration for his services, as such Court may appoint. (iv.) The Receiver shall, subject to any order of such Court, pay over all moneys received by him to such holder, or to and among the holders of debentures or coupons of the same series as the debenture held by such holder, or to and among the holders of debentures or coupons generally in such order of priority or otherwise and in such proportions as the Court may think fit; and, if there is any balance in hand over and above the amount due and payable to him under this Act, the Receiver shall pay such balance to the Water Authority. Application [163H.] The provisions of sections 163A to 163G, both pofrofvoirseigoonisng inclusive, shall also be applicable to a Water Supply Board to Water constituted under section nineteen of *" The Rights in Water BSuopaprdly. and Water ConseTvation and Utilization Act ot 1910." * I Geo. V. No. 25, supra, page 3f.78.

WATER SUPPLY. 9803 1921. Water Authoritie8 Act Amendment Act. [163J.] A Water Authority may for temporary Water. accommodation obtain advances from any bank by way ~ ~ h~ ~ : of overdraft: Provided that no such overdraft shall at overdraft. anyone time or under any circumstances exceed the -amount fixed for the time being with respect to the Water Authority concerned by the Governor in Council." WHEAT ADVANCES AGREEMENT RATIFICATION. See AGRICULTURE. WORKERS' ACCOMMODATION. See LABOUR. WORKERS' COMPENSATION. See LABOUR.