7

B.—ll

3lrtkleS 0f %sXttmmt made this twonty-eigkfe twenty-fourth day of April March, one thousand eight hundred and eighty ninety-three, between the Honourable Haay-AlbeEt-Atkinson, John Ballance, Colonial Treasurer of New Zealand, and a member of the Executive Council thereof, of the one part, and the Bank •of New Zealand of the other part: Whereas by the eix/t/teenth section of ■" The Public "Revenues Act, 18£SP1," it is enacted that the Treasury may from time to time agree with any bank upon terms and conditions for the receipt, custody, payment, and transmission of public moneys, within or without the colony, and for advances to be made under the authority of or by virtue of any Act of the General Assembly, and for the charges in respect of the same, and for the interest payable by or to the Bank upon balances or advances respectively, and generally for the conduct of the banking business of the Government: And wheeeas proposals have been made by the Ba&k-of Now Zealand Treasury to the treasury Bank of New Zealand for carrying on the banking business of the Government of New Zealand under the provisions of the hereinbefore-recited provisions of Public Rovonues-Aet—3r&f%" Act, and such proposals have been accepted by the Treasury said Bank : Now, theeefoee, the said Harry Alberi Atkinson, John Ballance, as such Colonial Treasurer aforesaid (and who is included in the expression " the Treasury," hereinafter defined), hereby agrees with the Bank of New Zealand (hereinafter termed " the Bank"), and the Bank hereby agrees with the Treasury, as follows (that is to say):— 1. For the purposes of this agreement the following terms and expressions shall have the meanings hereby assigned to them, unless there be something in the context repugnant thereto: — " The Government " means the Government of the Colony of New Zealand. " The Treasury " means the Colonial Treasurer for the time being of the said colony, and includes any member of the Executive Council for the time being acting as or for the Colonial Treasurer, "Treasury Eegulations " mean any regulations made by the Governor in Council and for the time being in force under " The Public Eevenues Act, 187&.91." " The Bank " means the Bank of New Zealand incorporated in New Zealand under the provisions of the --T-fae New Zealand Bank Acts 1861 to 1891, and includes the feanch office of the oamo Bank carrying on business in London. Whenever in this agreement any officer is referred to by the title of his office, or any account is mentioned, it shall be understood to mean an officer or account of a like name, as the case may be, mentioned in " The Public Eevenues Act, 18%%91," or the Treasury Eegulations aforesaid. As to Deposits. 2. All moneys paid to the Government shall, subject to the terms of this agreement, be deposited with the Bank : Provided — (1.) That whenever the balance at credit of the Public Account or the New Zealand Public Account, either alone or taken together, shall exceed three hundred thousand pounds, the Treasury shall at any time bo at liberty to invest such excess in interest-bearing securities, or in fixed deposit with any bank ; and (2.) Further, that the Treasury shall have the like powers of investment in respect of all or any part of the moneys at credit of the Eeceiver-General's Deposit Account, the Post Office Account, the Government Insurance Account, the Public Trustee's Account, or other special accounts of the Government. 3. The Bank shall at each of its branches accept deposits of any amount for credit of the Public Account the Eeceiver-General's Deposit Account, the Post Office Account, the Government 2—B. 11.

BANKING BUSINESS OF THE NEW ZEALAND GOVERNMENT (COPY SHOWING THE ALTERATIONS MADE BY THE EXISTING AGREEMENT, AND COMPARED WITH THE FORMER AGREEMENT DATED 28th APRIL, 1880).