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REPORT I>GUX d M A J A CI W 111 T'l

Wellington, 12th July, 1950. The Public Debt Commission has the honour to lay before Parliament the statement of accounts and a report of its proceedings for the year ended 31st March, 1950. In terms of section 14 of the New Zealand Loans Amendment Act, 1947, the sum of £4,723,040 19s. 9d. was paid to the credit of the Loans Redemption Account from the Ordinary Revenue Account of the Consolidated Fund, and this sum, together with the balance at the beginning of the year (£764,023 16s. 10d.), was utilized in the discharge from the public debt of securities of a nominal amount of £5,487,064 16s. 7d. as per statement hereunder. Statement of Accounts Receipts Balance at beginning of year— £ s. d. £ s. d. Cash, being portion of balance of Loans Redemption Account as at Ist April, 1949 .. .. .. .. .. 764,023 16 10 New Zealand Loans Amendment Act, 1947. section 11 (&) — Annual contribution from the Consolidated Fund in respect of the defined portion of the public debt— One-half per cent, of the total amount of the defined portion of the public debt outstanding at 31st March, 1949 .. .. .. .. 2,724,971 15 9 Four per cent, of the total amount of the defined portion of the public debt repaid or redeemed to 31st March, 1949 .. .. .. .. 1,998,069 4 0 4,723,040 19 9 £5,487,064 16 7 Payments New Zealand Loans Amendment Act,' "1947, "section 12 (6)— Redemption of securities — Securities redeemed at maturity— £ . s. d. £ s. d. 2|-per-cent. stock to mature 15th June, 1947-49 .. .. 1,077,510 0 0 Securities redeemed before maturity — 2J-per-cent. stock to mature 15th February, 1949-50 .. .. .. .. 695,285 0 0 4-per-cent. stock to mature 15th May, 1949-52 .. 3,714,269 16 7 4,409,554 16 7 £5,487,064 16 7 The capital accounts which have been relieved of liability due to the above redemptions are : £ s. d. (1) War Expenses Account .. .. .. .. 1,772,795 0 0 (2) War Loans 1914-18 Account .. .. .. 3,714,269 16 7 £5,487,064 16 7

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