8.—5

53

(7.) Any person connected in any capacity with a co-operative society or association who embezzles, abstracts, or wilfully misapplies any moneys, funds, thereof, or who without authority from the directors draws any order, assigns any note, bend, draft, mortgage, judgment, or decree thereof, or who makes any false entry in any book, report, or statement with intent to defraud any other company, body politic or corporate, or any individual person, or to deceive any officer or any agent appointed to examine into the aflairs of any such association or society, and every person who with like intent aids or abets any officer, clerk, or agent in any violation of this section, shall be punished by a fine not exceeding one thousand pounds, or by imprisonment not exceeding five years, or both. (8.) Any person who shall deceive, defraud, or impose upon, or who shall attempt to deceive, defraud, or impose upon any person, firm, or corporation by making any false pretence or representation regarding the character, issue, security, or terms of any farm loan, stock, bond, coupon, or dividend warrant issued under the terms of this Act; or by falsely pretending or representing that any farmloan stock, bond, coupon, or paper issued under the terms of this Act, or anything contained in such farm-loan bond, coupon, or paper is anything other than or different from what it purports to be on the face of said stock, bond or coupon, or dividend warrant, shall be fined not exceeding one hundred pounds, or imprisoned not exceeding one year, or both. 25. (1.) No* person shall directly or indirectly solicit or endeavour to influence the Farm|Loan Board or any member thereof with respect to the application of any other person for a loan, advance, or grant of credit. (2.) Every person who commits an offence against the provisions of the last preceding subsection is liable on conviction to a fine not exceeding fifty pounds. (3.) Any person who, directly or indirectly, solicits or endeavours to influence the Farm Loan Board or any member thereof for the purpose of obtaining a loan, advance, or grant of credit shall be disqualified, and no loan, advance, or grant of credit shall at any time be made to him, and he shall be liable on conviction to a fine not exceeding fifty pounds. Government Deposits. 26. (1.) The Minister of Finance, may make deposits for the use of the Board out of any money in the Treasury not otherwise appropriated. The Board shall issue to the Treasury a certificate of indebtedness for any such deposit, bearing a rate of interest not to exceed the current rate charged for fixed deposits, to be secured by farm-loan bonds, stock, or other collateral, to the satisfaction of the Treasury. Any such certificate shall be redeemed and paid by the Board at the discretion of the Treasury. The aggregate of all sums so deposited by the Treasury shall not exceed the sum of twenty-five thousand pounds at any one time. (2.) Until such time as the capital of the Farm Loan Board shall be five hundred thousand, pounds or more the Minister of Finance may in his discretion make deposits in addition to those authorized by the preceding paragraph, to be secured, redeemed, and paid in the same manner as jjrovided in such paragraph, except that any additional deposit made hereunder shall be called by the Treasury and redeemed by the Board within fifteen days after the conclusion of each general offering of farm-loan bonds by such Board. The aggregate of such additional deposits outstanding at any time shall not exceed the difference between the aggregate capital of the Farm Loan Board on the last day of the preceding month and the sum of five hundred thousand pounds. The certificate of indebtedness issued to the Treasury by the Board for such additional deposits shall bear a rate of interest not exceeding by more than one quarter of one per centum per annum the rate borne by the last bond issue of the Board. The Minister of Finance is further authorized, in his discretion, upon the request of the Farm Loan Board, from time to time to purchase at par and accrued interest, with any funds in the Treasury not otherwise appropriated, farm-loan bonds or Stock issued by such Board. Such purchases shall not exceed the sum of two hundred and fifty thousand pounds in any one financial year. The Farm Loan Board may at any time repurchase at par and accrued interest, for the purpose of redemption or resale, any bonds so purchased from it and held in the Treasury. Farmloan bonds or stock so purchased by the Treasury, and held in the Treasury, shall, upon thirty days' notice from the Treasury, be redeemed or repurchased by the Board at par and accrued interest. Organization Expenses. 27. The sum of twenty thousand pounds, or so much thereof as may be necessary, is hereby appropriated, out of any money in the Treasury not otherwise appropriated, to be expended, under the direction of the Farm Loan Board, for the purpose of carrying into effect the provisions of this Act, including the rent and equipment of necessary offices. General. 28. For the better administration of this Act the Governor-General in Council shall have power to appoint local advisory committees consisting of not more than six members, including the Farm Loan Supervisor and his deputy, in districts to be specified by the Farm Loan Board, who shall advise upon such matters as may be referred to them from time to time by the Farm Loan Board. 29. The Superintendent of State Advances, the Audit Office, and one person to be appointed by the Minister of Finance, shall be the custodians of the mortgages and of lien securities deposited against the issue of bonds or stock. 30. Wherever the term " first mortgage " is used in this Act it shall be held to include such classes of first liens on farm lands as shall be approved by the Farm Loan Board, and the credit instruments secured thereby. The terms " farm-loan bonds " and " farm-loan stock " shall be held to include all bonds and stock secured by collateral deposited with a Farm Loan Board under the terms of this Act.