Act Repealed Latest version as at 13 December 1864 (as enacted) | 1864 No 2

Rate of Interest Act 1864

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Contents

Preamble.

Short Title.

Governor may raise the rate of interest on monies borrowed under New Zealand Loan Act 1863.

III

No bond or security issued at increased rate to be disposed of under par.

Rate of Interest Act 1864

Public Act		1864 No 2
Date of assent		13 December 1864

	Title
	Preamble.
I	Short Title.
II	Governor may raise the rate of interest on monies borrowed under New Zealand Loan Act 1863.
III	No bond or security issued at increased rate to be disposed of under par.

An Act to authorise the Governor to increase the rate of Interest on Monies to be hereafter raised under the New Zealand Loan Act 1863.

Preamble.

WHEREAS by the New Zealand Loan Act 1863 the Governor is empowered to borrow a sum of money not exceeding £3,000,000 in such manner as is there set forth at a rate of interest not exceeding 5 per cent per annum And it is expedient to enable the Governor to raise the rate of interest on so much of the said Loan as has not been raised

Be it therefore enacted by the General Assembly of New Zealand in Parliament assembled and by the authority of the same as follows—

I Short Title.

The Short Title of this Act shall be “The Rate of Interest Act 1864.”

II Governor may raise the rate of interest on monies borrowed under New Zealand Loan Act 1863.

The Governor may by Order in Council raise the rate of interest on monies to be hereafter borrowed under authority of “The New Zealand Loan Act 1863” to a rate not exceeding 6 per cent per annum and interest at such increased rate on all sums so borrowed shall be paid in like manner as if the same had been authorised to be raised under the said Act and the powers of the said Act shall apply to bonds or debentures to be issued bearing interest at such increased rate as if they had been issued under the said Act.

III No bond or security issued at increased rate to be disposed of under par.

No bond or other security issued at such increased rate under authority of the said Act and of this Act shall be sold or disposed of at a lower rate than par.

Rate of Interest Act 1864