G.-rNo. 4

56

REPORT ON THE GOLD FIELDS

Assistant Engineer-in-Chief. Advances will be made monthly, and only during the actual progress or execution of the work, and the final payment will be made on its actual completion. 4. Not more than fifteen thousand pounds (£15,000) will be advanced to any one Undertaking. 5. Immediately after any application shall have been finally decided upon, the deposit thereon will be repaid, except so much as may bo retained under authority of the Minister for covering the cost of the investigation made under the Act. G. No loan will be made unless the borrowers shall have complied with all the provisions and requirements of the several Acts relating to the Gold Fields, and of any other law or regulation for the time being in force within the Gold Fields with respect to the proposed works. 7. Every work in respect of which any advance is made, shall be carried out in conformity with the particulars contained in the application, and in strict accordance with plans, sections, and specifications, which shall bo approved of by the District Engineer, or Engineer-in-Chief, or Assistant Engineer-in-Chief; and detailed estimates of the cost of the works, which shall also be approved as above, and which detailed estimates will form the basis of advances as they may be required in all cases where the work is not executed by contract; but in cases where the work shall be executed by contract, then the schedule prices attached to such contract shall be the basis of such advance. In cases where the work may already have been executed, or partly executed, for which advances have been applied for, the value thereof shall be determined by the District Engineer, who shall give a certificate as to his estimated value of such work; and the District Engineer shall have access at all times to the works • and if the Minister shall be satisfied at any time that the provisions of this regulation are not complied with, he may cause notice to be given to the borrowers, or their Engineer or Manager, requiring them to conform to such particulars and specifications ; and if they shall refuse or neglect for one calendar month after such notice to comply therewith, then the Minister may cause the assent to the application for a loan in respect of such enterprise to be cancelled, and any moneys advanced under the same to be recovered under the security to be granted: Brovided that the Minister may, if he think fit, agree during the progress of any works to such modifications as he may approve. 8. The promoters of any undertaking may at any time remove the same from the operation of these regulations, by writing under their hands, or under the hands of their registered manager, addressed to the Minister, and on repayment of the moneys that may have been advanced by the Government, with interest to date. 9. A full and correct account of the cost of construction of any undertaking to which the benefits of the Act are extended, shall be kept at the office of the promoters, and shall be open at all reasonable hours to the inspection of any person deputed by the Minister, and a statement of all payments on such accounts shall be forwarded at such periods and intervals as tho promoters and the Minister may an-ree upon. A final account, showing the cost of the works, shall on their completion be forwarded through the District Engineer to the Minister, and the final balance shall be paid on this account in the proportion above stated. Always provided that the proposed manner of carrying out the work either by contract or otherwise shall have been previously approved of by the Minister. 10. The promoters of any undertaking to which money may be advanced shall, before the issue of any loan to them, give to the Minister a valid security, including a lien or mortgage to cover the amount of loan over the works and property proposed to be constructed; and all deeds necessary shall be prepared and completed at the expense of the promoters. 11. No money shall be paid towards the construction of any water race, dam, or reservoir until the promoters of the same shall have duly registered themselves under the Mining Companies Limited Liability Act or the Joint Stock Companies Act. 12. The rate of interest to bo paid by the promoters of any undertaking coming under these Regulations shall be seven pounds per centum per annum, payable quarterly from the date of the advance. 13. The capital sum borrowed shall be repaid out of the profits of the undertaking in the same proportion as the amount of money advanced by the Government bears to the paid-up capital of the Company or in such other proportion as the Minister may determine. 14. In the foregoing, the term " Minister" shall mean the Minister for Public Works or the Minister acting for him for the time being, and the terms " Engineer-in-Chief," "Assistant Enoineer-in-Chief," and " District Engineer," shall mean the officers appointed under those designations by the said Minister. W. Gisborne. Minister Acting for the Minister for Public Works. Public Works Office, Wellington, 31st January, 1872. Note. —These Eegulations supersede those jubfiehed in Gazette No. 1, of 6th January, 1872.

No. 2. Colonial Secretary's Office, (Judicial Branch) Wellington, 27th March, 1872. Wardens upon gold fields are informed that the Under-Secretary for Gold Fields (Public Works Department) has been authorised to place himself in immediate communication with them, for the purpose of obtaining the information necessary for compiling the Mineral Statistics of the Colony. By order, E. G. Fountain, For the Assistant Law Officer.