SIXTH SCHEDULE. 36 VICTORIA, No. 439. On the application for a Stock certificate, for every pound included One penny. therein On the change of a nominal certificate for a certificate to bearer, for every pound included therein One halfpenny. On the application for re-inscription, for every pound included therein One halfpenny. On converting debenture, for every pound mentioned therein ... One farthing. Section 7. An Act to authorize the raising of Money for Railways and for other purposes. WE [11th November 1873.] HEREAS it is expedient to raise by loan, secured on the con- Preamble. solidated revenue of Victoria, funds for Railways and other works, and for repaying to the consolidated revenue moneys advanced or to be advanced for and on account of those purposes: Be it therefore enacted by the Queen's Most Excellent Majesty by and with the advice and consent of the Legislative Council and Legislative Assembly of Victoria in this present Parliament assembled and by the authority of the same as follows: 1. This Act shall be called and may be cited as "The Railway Title of Act. Loan Act 1873." be issued. 2. It shall be lawful for the Governor in Council from time to Debentures may time or at any time to cause to be made out and issued debentures, secured upon the consolidated revenue of Victoria and the growing produce thereof, for such sum or sums of money not exceeding One million five hundred thousand pounds sterling in the whole as may be required for such Railways works and other purposes as set forth in the Second Schedule hereto. Second Schedule. 37 VICTORIA, No. 468 Amount of and interest on debentures. charged on the revenue. 3. All debentures made out and issued under the authority hereinbefore contained shall be for any sum not less than One hundred pounds, and shall bear interest at the rate of Four pounds per centum per annum payable half-yearly, and shall be redeemable at the expiration of twenty-five years from the date thereof. All of such debentures and the interest thereon shall be payable in London. Debentures to be 4. All debentures made out and issued under the authority hereinbefore contained shall be and be deemed to be a primary charge (next in order to any debentures issued or to be issued under the authority of any Act of the Parliament of Victoria, and made by any such Act a primary charge) upon all the revenues of Victoria from whatever source arising, which shall be subject to the control of the Legislature thereof; and all interest thereon, and the principal when due, shall be paid by the Treasurer of Victoria out of such revenues under warrants to be issued by the Governor in priority of all demands except the charges and expenses of the collection of such revenues, and except the demands of the holders of debentures as aforesaid issued or to be issued under the authority of any such Act as aforesaid: Provided that nothing herein contained shall be construed to prejudice in any way the demands either for principal or interest of the holders of any such last-mentioned debentures. Form of debentures. First Schedule. Transfer by delivery. Sale of debentures. Debentures may be contracted for 5. All debentures made out and issued under the authority hereinbefore contained shall be in the form set forth in the First Schedule hereto, and shall bear date on the day of the issuing thereof, and shall be numbered arithmetically beginning with the number one and so proceeding in an arithmetical progression wherein the common difference shall be one. 6. The said debentures shall be payable to the bearers thereof, and shall pass by delivery only and without any assignment or endorsement; and the bearer of every such debenture shall have the same rights and remedies as if he were expressly named therein. 7. The Treasurer of Victoria may under such regulations at such times and places in such sums on such conditions and in such manner as the Governor in Council may direct, offer or cause to be offered for sale such debentures. 8. The Governor in Council may authorize the whole or any by Government portion of the moneys to.be raised by the sale of debentures to be issued under the authority hereinbefore contained to be negotiated or contracted for by an agent or agents to be appointed on behalf of the Government of Victoria by the Governor in Council. agent. Part of Public 9. All moneys raised under the authority herein contained shall be paid into the Public Account and shall be placed to the credit of an account to be kept in the Treasury for such purpose to be called "The Railway Loan Account 1873," and shall and may, subject to the provisions hereinafter contained, be applied to the purposes menSecond Schedule. tioned in the Second Schedule and no other, and in sums not exceeding the amount therein specified respectively. Re-purchase of debentures. 10. The Governor in Council may from time to time authorize the Treasurer to re-purchase the said debentures to the amount of such moneys as the Parliament of Victoria may by any Act appro No. 468. priate for that purpose, and all debentures so re-purchased shall be 37 VICTORIA, forthwith cancelled and shall not be re-sold under any pretence or circumstance whatever. consolidated account of the 11. It shall be lawful for the Governor to issue and apply from Governor may time to time out of the consolidated revenue any sum or sums of advance from money not exceeding Two hundred thousand pounds towards any of revenue on the purposes to which the moneys to be raised by the authority of Railway Loan. this Act shall be applicable, and any sum or sums of money which have been or which may hereafter under the authority hereof or of any Act authorizing the issue and application or the appropriation of any moneys be issued and applied to any of the purposes aforesaid shall from time to time be repaid out of the moneys to be raised hereunder into the consolidated revenue. 12. The Governor in Council may from time to time or at any Treasury bills. time cause to be made out and issued Treasury bills secured upon the consolidated revenue of Victoria and the growing produce thereof for any sum or sums of money not exceeding Half a million pounds sterling. 13. All Treasury bills made out and issued under the authority Interest on herein before contained shall be for any sum not less than One Treasury bills. hundred pounds, and shall bear interest at the rate of Four pounds per centum per annum payable half-yearly, and shall be payable out of the Consolidated Revenue of Victoria which is hereby appropriated for that purpose, and shall be redeemable at the expiration of a period not exceeding two years from the date thereof. All such Treasury bills and the interest thereon shall be payable in Melbourne. recouped. 14. Any sum or sums of money which may under the authority Consolidated hereof be issued and applied out of the Consolidated Revenue in revenue to be satisfaction of Treasury bills shall from time to time be repaid out of the moneys standing to the credit of the Railway Loan Liquidation and Construction Account into the Consolidated Revenue. prepared and 15. All Treasury bills shall be prepared and made out in such Treasury bills method and form and with such cheques indents and counterfoils as registered." the Treasurer shall deem most safe and convenient, and shall be signed by the Treasurer and registered in the office of the Commissioners of Audit. and estimates of submitted for lative Assembly. 16. The Treasurer shall in every year during which any part of Annual accounts the said sum of One million five hundred thousand pounds hereby to be prepared authorized to be raised by debentures under this Act shall remain expenditure unexpended, cause to be prepared an account of the moneys raised sanction of Legisunder this Act, and of the amount of debentures issued in respect of the moneys so raised and of the moneys which shall have been issued out of the consolidated revenue in respect of the sum of One 30 & 31 Vict. million five hundred thousand pounds authorized to be raised under c. 145 s. 20. this Act; and before any expenditure shall be made or contract entered into for the construction of such railways and other works or the purchase of land, an estimate of the expenditure which the Board of Land and Works proposes to incur for the said purposes during the ensuing twelve months, and also a statement showing the 29 Vict. No. 289. works or purposes for or in respect of which the moneys during the preceding year may have been applied, shall be laid before both No. 468. 37 VICTORIA, Houses of Parliament, and the aforesaid estimate shall be submitted for the sanction of the Legislative Assembly in the same manner as the annual Estimates of Expenditure for the Public Service. Conversion of debentures into stock. Penalty for forging debentures &c. 17. The several debentures issued under the provisions of this Act be converted into Victorian Government Stock in the same may manner as if the present Act was included in either the First or the Second Schedule to Act numbered CCCCXXXIX., intituled "Debentures Conversion Act 1872." 18. Any person who shall forge or alter or shall offer utter or dispose of or put off knowing the same to be forged or altered any Debenture or Treasury Bill made out and issued or purporting to be made out and issued under this Act shall be guilty of felony, and being thereof convicted shall be imprisoned for any term not exceeding ten years. Section 5. Sections 2 & 9. SCHEDULES. FIRST SCHEDULE. VICTORIAN GOVERNMENT DEBENTURE.-RAILWAY LOAN 1873. TRANSFERABLE BY DELIVERY. Under the authority of "The Railway Loan Act 1873." pounds sterling on the first which with interest This debenture entitles the bearer to day of One thousand eight hundred and thereon at the rate of Four pounds per centum per annum is hereby secured on the consolidated revenue of the colony of Victoria aud the growing produce thereof such interest being payable half-yearly on the first day of January and the first day of July in every year (dividend coupons for which are annexed) at London. Dated the 18 Treasurer. this SECOND SCHEDULE. £ s. d. ... 1,224,000 0 0 176,000 0 0 50,000 0 0 (1.) For such Railways and works connected therewith as Parlia- (2.) For Railway Bridges and other works connected with Railway (3.) To repay to the Consolidated Revenue certain sums heretofore ... (4.) For certain additional works and machinery at the Alfred £1,500,000 0 0 An Act to amend the "Public Works Loan Act 1872." WHEREAS [24th December 1874.] HEREAS it is expedient to amend the "Public Works Loan Preamble. Act 1872" and to make provision for the loan authorized therein to be partly raised by debentures: Be it therefore enacted by the Queen's Most Excellent Majesty by and with the advice and consent of the Legislative Council and Legislative Assembly of Victoria in this present Parliament assembled and by the authority of the same as follows: "The Public Title of Act. 1. This Act shall be called and may be cited as Works Loan Act Amendment Act 1874," and shall be read as part of and construed with the "Public Works Loan Act 1872." 2. The nominal amount of "Victorian Government Stock" Nominal amount erected by the said recited Act shall be reduced by such sum or sums of money as may be raised by the sale of debentures hereinafter provided. of stock erected to be reduced by sale of debentures. 3. The Governor in Council may from time to time or at any Debentures may time cause to be made out and issued debentures for such sum or be issued. sums of money as shall remain unsold of the Victorian Government Stock not exceeding Five hundred thousand pounds sterling in the whole, secured upon the consolidated revenue of Victoria and the growing produce thereof. bentures. 4. All debentures made out and issued under the authority Amount of and herein before contained shall be for any sum not less than One interest on dehundred pounds, and shall bear interest at the rate of Four pounds per centum per annum payable half-yearly, and shall be redeemable at the expiration of twenty-five years from the date thereof. such debentures and the interest thereon shall be payable in Melbourne or at the option of the holders in London on giving notice as provided in the Schedule hereto. All of |