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Past actions are not
affected. See No. 1453 s. 4.
3. Nothing in this Act contained shall extend to indemnify any person against a verdict or a judgment given or entered before the commencement of this Act; and all proceedings consequent upon or arising out of any such verdict or judgment whether by or against any party thereto or any other person shall be had and taken as if this Act had not been passed.
4. In section one hundred and eighty-five of the Real Properly Act 1890 the words “ or paper” shall be and the same are hereby repealed.
of Bonds and Debentures held by the Trustees
[29th August, 1905.] HEREAS it is expedient to make better provision for the safe Preamble. .
keeping of any bonds or debentures representing any part of the funds of registered friendly societies or their branches and for the
protection of the trustees of the said societies and branches in respect of all bonds or debentures held by the said trustees : 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) :
1: This Act may be cited as the Friendly Societies Act 1905 and Short title. shall be read and construed as one with the Friendly Societies Act 1890 and any Acts amending the same, all of which Acts and this Act Nos, 1994, 1232, &c. may be cited together as the Friendly Societies Acts.
2. This Act applies only to bonds and debentures heretofore or Bonds and hereafter made out and issued pursuant to any Act by or on behalf of debentures to the Governor in Council or the Treasurer of Victoria or by any See No. 1841 s. 2.
(including the city of Melbourne and the town of Geelong), or the Melbourne and Metropolitan Board of Works or the Commissioners of Savings Banks.
Note to render bond
Effect of note until
cancelled. See ib. 3. 4.
3. So far as regards any bond and debenture for the time being vested in the trustees of any registered society or registered branch, the said trustees shall cause to be legibly written printed or stamped upon the face of any such bond or debenture a note of ownership signed by one or more of the said trustees in the form or to the effect of the First Schedule to this Act.
4. Until the cancellation as hereinafter provided of such note of ownership on any bond or debenture, such bond or debenture and any right or title thereto either in law or equity shall (notwithstanding anything contained in any Act or in such bond or debenture) cease to be transferable or pass by delivery only or otherwise howsoever, and the principal money represented by such bond or debenture shall be paid to the trustees for the time being of the said society or branch and to no other person whatsoever.
5. Any note of ownership as aforesaid on any such bond or detenture vested in the trustees of any registered society or registered branch may be cancelled by a cancellation note in the form or to the effect of the Second Schedule to this Act written printed or stamped on the face of the said bond or debenture and signed by all the trustees of the said society or of the society of which the said branch is a branch as the case may be ; and thereafter such bond or debenture and any interest therein shall become transferable and pass by delivery as fully and effectually as if such first-mentioned note had not been made thereon and as if this Act had not been passed.
How note to be cancelled.
19 Trustee or Trustees of the Society or Branch.]
The Trustees of the Society or (Signed by)
of the Society of which the
An Act to authorize the Metropolitan Fire
Brigades Board to Borrow a further sum of
[29th August, 1905.]
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 Metropolitan Fire Brigades Short title and Board Loan Act 1905, and shall be construed as one with the Fire construction. Brigades Act 1890 and any Acts amending the same.
2. In addition to the borrowing powers conferred upon either Board Power of by the Fire Brigades Act 1890 as amended by the Fire Brigades Act Metropolitan Fire 1891 and the
Metropolitan Fire Brigades Loan Act 1893 and notwith- PortfoW 1.90,000 standing the limit prescribed in section three of the Fire Brigades Act See No. 136 8. 2. 1891, the Metropolitan Board with the consent of the Governor in Council may borrow the further sum of Thirty thousand pounds, and shall have power with the like consenť to issue debentures under the seal of the said Board for the amount so borrowed together with interest thereon at a rate not exceeding four per centum per annum.
Nos. 1200, 1207,1346. Interest and redemption
3. Such interest shall be payable half-yearly on the first day of April and the first day of October, and such debentures shall be redeemable at the expiration of twelve years from the date thereof, and the Governor in Council may make regulations prescribing the form of such debentures and the conditions on which they may
4. The Metropolitan Board shall apply the moneys raised under the authority of this Act for or towards the payment by the said Board of the loan falling due by the Board on the first day of October One thousand nine hundred and five.
See No. 1346 s, 3.
To be a first charge 5. The amount borrowed pursuant to this Act shall be a first Pecceinta in deposit charge upon the deposit receipt of the Commercial Bank of Australia receipts.
Limited for the sum of Twenty-one thousand four hundred and vinetythree pounds seventeen shillings and sixpence as particularly described in the Schedule to this Act, and shall also be a further charge upon
all the property and revenue whether accrued or to accrue of the
Metropolitan Board. Custody of deposit
6. (1) The aforesaid deposit receipt shall be held in the custody receipts. and under the control of the Minister, and the proceeds thereof shall
he invested in the redemption or repurchase of the said debentures or in the purchase of Government securities which shall be held in the like custody and under the like control for the purpose of redeeming the said debentures when they become due.
(2) Where such proceeds are so invested in the purchase of Government securities direct from the Treasurer of Victoria, such securities shall when sold to provide for the redemption of the Board's debentures be repurchased by the said Treasurer at the price paid to him for the same.
Ib. 8. 4.
interest on deposit receipis. Ib, s, 5.
7. All interest on the aforesaid deposit receipt shall be set apart as a sinking fund and forth with invested by the Minister in the purchase of Government securities for the purpose of redeeming the said debentures when they become due.
8. In addition to the annual estimate of expenditure to be prepared pursuant to section two of the Fire Brigadës Act 1891, the Metropolitan Board before the thirty-first day of January in every year shall prepare a separate estimate of the expenditure which will be necessary to be incurred during such year for interest on the debentures issued in accordance with this Act; and for any year during which the principal moneys of any debentures are payable the said Board shall also in the mouth of January of such year prepare a separate estimate of the expenditure necessary to be incurred during such year for the repayment of such debentures.
Preparation of estimates of expenditure. Ib. s. 6.