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An Act to amend the Companies Acts so far as regards Dairying Companies.

[22nd November, 1905.] BF E it enacted by the King's Most Excellent Majesty by and with

the advice and consent of the Legislative Council and the Legislative Assembly of Victoria in this present Parliament assembled and by the authority of the same as follows (that is to say) :

1. This Act may be cited as the Dairying Companies Act 1905, Short title and and shall be read and construed as one with Part I. of the Companies construction. Act 1890 (hereinafter called the Principal Act). 2. In this Act unless the context otherwise requiresDairy produce” means milk cream butter cheese bacon fowls Dairy produce.

eggs honey and any farm dairy or garden produce intended

to be used as food for human consumption. “Dairying company

means any company engaged in and Dairying company. having for its principal object or one of its principal objects

the production or manufacture of cream butter or cheese, and
the expressions“ creditor" and "deed of settlement” respectively No. 1482 ss. 76, 86.

shall have the like meanings as in Division IV. of the
Companies Act 1896.

3. Subject

No. 1074.

Definitions.

company to take power to hold

shares in dairy

company.

Power of dairying 3. Subject to the provisions of this Act any dairying company

may by a special resolution in that behalf passed at any time alter the

provisions of its memorandum of association or deed of settlement by produce storage or including as one of its objects the acquisition and holding of shares in

any other company registered or proposed to be registered under Part I. of the Principal Act or any amendment thereof and liaving for its principal object or one of its principal objects the collecting carrying storing handling selling exporting or distributing of any dairy produce.

4. Notwithstanding anything contained in Division IV. of the Companies Act 1896 it shall not be obligatory on a dairying company which adopts a special resolution as aforesaid to observe the requirements of the said Division.

Part IV. of No. 1482 not to apply.

Limitations of alterations.

5. No alteration shall by virtue of such special resolution of any dairying company take effect (except under the provisions of the said Division), («) unless and until the said company has lodged with the

Registrar-General for registration a copy under the seal of the company of the memorandum of association or deed of settlement as so altered, and also a statutory declaration by any director secretary or manager of the company stating either that every creditor of the company has in writing consented to the proposed alteration or that

there are no such creditors; and (6) unless and until the Registrar-General has notified in the

Government Gazette the fact of the registration of such

alteration and declaration ; and (c) unless and until the alteration has been confirmed by the

Governor in Council as hereinafter provided.

Confirmation by
Governor in
Council.

6. The Governor in Council upon being satisfied that all other provisions of this Act have been complied with so far as regards any dairying company may if he thinks fit by Order in Council confirm the proposed alteration and upon such confirmation the alteration shall be deemed to have been duly and validly made.

MELBOURNE:
By Authority: Rort. S. BRAIN, Gorernment Printer.

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ANNO QUINTO

EDWARDI SEPTIMI REGIS.

**

No. 1982.

or

An Act to provide for the Issuing of Treasury

Bonds when required for paying off re-
purchasing redeeming

Government
securities or for exchanging therefor.

[22nd November, 1905.] WH

HEREAS it is expedient that the Governor in Council be Preamble.

authorized to issue Treasury Bonds as occasion may require for the paying off re-purchasing or redeeming or exchanging of Government securities : Be it therefore enacted by the King's Most Excellent Majesty by and with the advice and consent of the Legislative Council and the Legislative Assembly of Victoria in this present Parliament assembled and by the authority of the same as follows (that is to

say) :

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1. This Act may be cited as the Treasury Bonds Act 1905.

Short title.

2. In this Act the expression “Government securities” means Government stock or consolidated stock or debentures or other securities created or security. issued pursuant to law in respect of the public debt of the State of

Victoria. 3

3. For

Bonds.

Power to make out 3. For the purpose of facilitating the paying off re-purchasing or Treasury Bonds.

redeeming of any Government securities or the exchanging of Government securities for Treasury Bonds the Governor in Council may from time to time and at any time in the manner and subject to the provisions of this Act cause any number of Treasury Bonds to be made out by the Treasurer of Victoria for any sums of money not exceeding in the whole such amount of Government securities as the Governor in Council specifies and authorizes to be paid off re-purchased or redeemed with

the proceeds of or exchanged for the said Bonds. Sale of Treasury 4. The Treasurer may, under such regulations, at such times and

places, in such sums, on such conditions, at such prices, and in such manner as the Governor in Council may direct, offer or cause to be offered for sale or exchange all or any Treasury Bonds under this Act or may deposit all or any of such Treasury Bonds as security for any advances made to the Government of Victoria, and the holders of such Bonds

shall be at liberty to negotiate or sell the same. Application of

5. All such sums of money as are raised by the sale of or upon moneys raised.

the security of Treasury Bonds issued under this Act shall be applied only for or towards paying off re-purchasing or redeeming any

Government securities specified and authorized as aforesaid. How Bonds to be 6. All Treasury Bonds issued under this Act including any Coupons

relating thereto shall be made out at the Treasury of Victoria in such method and form as the Governor in Council may direct and may contain one common sum or different sums as the principal moneys.

7. All Treasury Bonds issued under this Act shall bear date on such days as the Governor in Council may direct and shall bear interest payable at such times and at such places as may be specified in such Bonds at a rate not exceeding Four pounds per centum per annum in

respect of the principal moneys mentioned therein. How to be signed 8. All Treasury Bonds issued under this Act shall be signed by registered and

the Treasurer of Victoria or by some other person in that behalf appointed by the Governor in Council who shall sign on behalf of the said Treasurer ; and such Bonds shall be registered in the office of the Auditor-General and shall be numbered consecutively beginning

with number one and progressing arithmetically by units. Principal and

9. (1) The principal sums represented by all Treasury Bonds interest chargeable issued under this Act and also the interest thereon shall be chargeable

upon and paid out of the consolidated revenue of Victoria which is hereby to the necessary extent specially appropriated for the purpose.

(2) The principal sum of each Treasury Bond issued under this Act shall if not previously paid be paid at such place as may be specified

in

made out.

Date of Bonds and rate of interest.

numbered.

on consolidated revenue.

in any such Bond, but all Bonds issued under this Act shall be paid on or before a date specified therein which shall not in any case be later than ten years after the issue thereof.

(3) All or any Treasury Bonds issued under this Act may with the consent of the holders thereof be paid off at or below the par face value thereof with interest thereon to date of payment at any time previous to the due date thereof.

10. If the terms and conditions on which any Government securities Power to establish are issued provide for the redemption thereof by means of a redemption redemption or or sinking fund or if in any case the Governor in Council so directs then the Governor in Council before the issue of Treasury Bonds in respect of any such securities shall fix the annual sum to be paid into such redemption or sinking fund, and in every year such annual sum shall be paid into such fund out of the consolidated revenue of Victoria which is hereby to the necessary extent appropriated accordingly.

11. In case any Treasury Bond issued under this Act is defaced by Defaced Bonds may accident the Treasurer may cancel the same and upon the cost of its be exchanged. preparation being paid cause a new Bond to be made in the Treasury in lieu thereof and such cancelled Bond shall be filed in the Treasury ; and such new Bond shall have the like currency and be in all respects subject to the same rules methods and continuance and bear the same number date and principal sum and rate of interest as such cancelled Bond.

12. Upon proof being made before a Judge of the Supreme Court Provision for Bonds by affidavit of any credible person that any Treasury Bond issued under lost &c. this Act and held by him the number and sum whereof shall be specified

him 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 upon the cost of its preparation being paid cause a new Bond to be made in the Treasury bearing the same number date principal sum and rate of interest as the Bond so lost or destroyed and to be delivered to such person upon his giving sufficient security to the Treasurer to indemnify the Treasury against any double payment if the missing Bond or any Coupon thereof is at any time thereafter presented for payment.

13. All Treasury Bonds with or without Coupons issued under this Cancelling of Act which are paid off and discharged and all defaced Bonds as aforesaid discharged Ponds. shall be cancelled by the Treasurer, and after being so cancelled shall be transmitted by him to the Auditor-General who after having audited and allowed the accounts thereof shall cause all such Bonds and Coupons (if any) to be burnt or otherwise destroyed and shall furnish the Treasurer with a certificate particularizing the Bonds and Coupons so burnt or destroyed.

MELBOURNE:
By Authority: RoBt. S. BRAIN, Government Printer.

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