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Table No. 22—continued Copy of Prosjpectus of Internal Loan —continued 1. Applications.—Applications may be paid in full at time of application or by instalments as specified in this Prospectus. Any instalment due may be paid in advance of the due date, and interest at the rate stipulated will be allowed from the actual date of payment. Applications should be for a multiple of £lO, with a minimum of £5O, and should be lodged at the Reserve Bank of New Zealand, Wellington, at any Branch of any Bank in New Zealand, including Trustee Savings Banks, at the District Treasury Offices at Auckland, Christchurch, or Dunedin, or at any postal Money-order Office in New Zealand. 2. Securities.—New Zealand Government Stock will be issued in either of the following forms, as may be directed by the applicant in the form of application : (a) Ordinary Stock transferable by Memorandum of Transfer without payment of any fee and free of stamp duty unless the transfer is by way of gift. (b) Death Duty Stock, which in terms of section 40 of the New Zealand Loans Act, 1932, may be tendered at par by the executor or administrator of a deceased stockholder in payment of Death Duties in the estate of the deceased stockholder. Death Duty Stock is not transferable as such but may be exchanged for Ordinary Stock. 3. Registration.—The Register of Stock will be kept at the Reserve Bank of New Zealand, Wellington, where transfers of fully-paid allotments will be registered free of charge. Any minor of the age of ten years or upwards is entitled to be registered as the holder of Stock and to execute transfers thereof. Ordinary Stock and Death Duty Stock will be registered in the name of the applicant, and Registration Certificates will be issued as soon as registration has been effected. If a Certificate of Title is required, application should be made on the prescribed form. 4. Interest.—lnterest will be paid half-yearly on the 15th February and 15th AugustThe first payment on fully-paid applications will be made on the 15th August? 1950, and will represent interest from the date of lodgment of the application money up to that date. The first payment on instalment applications will be made on the 15th February, 1951, and will represent interest from the dates of the deposits up to that date. The first payment will in every case be made to the original subscriber and will be paid by means of warrants forwarded by post from the Reserve Bank of New Zealand. Subsequent payments will be made by means of interest warrants forwarded to the person who is the registered holder of the Stock as at the due date of payment. The Reserve Bank of New Zealand, however, will accept directions from stockholders for payment of interest to any agent in the Dominion, and existing instructions for the payment of interest will apply to Stock issued in terms of this Prospectus. 5. Repayment.—The Minister of Finance reserves the right to repay the 3-per-cent. 1959/61 Stock at par at any time during the period 15th August, 1959, to the 15th August, 1961, on giving at least three months' notice in the New Zealand Gazette of his intention to repay. The 1954 Stock will be repaid at par at the Reserve Bank of New Zealand on the 15th August, 1954, and the 3-per-cent. 1959/61 Stock, if not previously redeemed, on the 15th August, 1961. 6. Remittances.—Cheques in payment of amounts subscribed to this Loan should be drawn in favour of the Reserve Bank of New Zealand, Wellington, and will be accepted free of inland exchange.

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