Notes Legal Tender.

Huntly Press and District Gazette, Volume 3, Issue 6, 7 August 1914, Page 2

Notes Legal Tender.

Governor’s Proclamation. PERIOD OF ONE MONTH. SIX BANKS OPERATING, s-r [By Telegraph.] Wellington, Wednesday. The following proclamation has been issuad by His Exceiency the Governor, under the Banking Amendment Act, which passed into law this afternoon, declaring bank notes to be legal tender from August 6th to September 6th,: — Declaring notes of certain banks to be a legal tender. Liver-* pool, Governor. A p reclamation. Whereas by section 2 of the Banking Amendment Act, 1914, it is enacted that the Govenor-in-Council may, by proclamation, declare that the notes payable on demand by any bank and then issued or thereafter to be issued or reissued within N.Z. under any lawful authority in tjiat behalf, shall, during the period limited by the proclamation, he everywhere within New Zealand, a good and legal tender of money to the amount therein expressed to be payable; and whereas occasion for the exercise of such power in respect of the banks named or described in the schedule hereto has now arisen ; and whereas the Governor-in-Council is satisfied in pursuance of the requirements of the said Act, that in respect of each of the said banks which has its head office in New Zealand the assets of that bank exceed its liabilities, as between the bank and its creditors, by at least the amount of its paid-up capital, and that in respect of each of the said banks which Las its head office out of New Zealand the assets of that bank within New Zealand exceed J its liabilities therein as between the bank and its creditors, now, therefore, His Excellency the Governor of the Dominion of New Zealand, in exercise and 1 pursuance of the powers and authorities conferred upon him ! by section 2 of the Banking Amendment Act, 1914, and of all other powers and authorities enabling him in that behalf and acting by and with the advice and consent of the Executive Council of the said Dominion, doth hereby declare that the notes payable on demand by any of the banks name ! or described in the schedule hereto and now issued or hereafter to be issued or reissued within New Zealand under any lawful authority in that behalf, shall, on and after the sixth day of August, 1914, until and including the sixth day of September, 1914, be everywhere within New Zealand a good and legal tender of money to the amount therein expressed to be payable. THE SCHEDULE. The Bank of New Zealand. The National Bank of New Zealand (Ltd.). The Union Bank of Australia (Ltd.) The Bank of Australasia. The Bank of New South Wales. The Commercial Bank of A us- A tralia (Ltd.). Given under the hand .of Excellency the Rf. Hon. Arthur William De Brito Savile, gEirl of Liverpool, Knight Grand Cross of the most Distinguished Order St. Michael and St. George, Member of the Royal Victorian Order. Governor and Ccminander-in-chief in and over His Majesty’s Dominion of New Zealand and its dependencies and issued under the seal of the said Dominion at the Government House at Wellington this sth day of August. in the year of Our Lord, one thousand nine hundred and fourteen. Issued iu Executive Council, J. F. ANDREWS, Clerk of the Executive Council. “ God Save the King ”