Page 2 Advertisement 1

New Zealand Listener, Volume 3, Issue 67, 4 October 1940, Page 2

DOMINION OR NEW ZEALAND NEW ZEALAND GOVERNMENT WAR LOAN; 0 1953 Authorised to be raised in accordance with the provisions of the New Zealand Loans Act, 1932, whereby the interest and principal are a direct charge upon the public revenues of the Dominion: ISSUE OF Stock PRICE OF ISSUE : E100 per cent Repayable Ist October , 1953 Payable as follows: Proceeds to be used for equipping and maintaining the armed forces of the Dominion; and for other war purposes_ On Application 830 per cent: Stock of this issue is non-interest bearing up to the Ist October, 1943. Interest On 16th December; 1940 840 per cent: will be paid thereafter at the rate of 21/2 per cent: per annum. A first interest payment of 81/5/- per cent: will be made on the Ist April, 1944. On 25th March; 1941 830 per cent: BASIS OF SUBSCRIPTION. The Minister of Finance has indicated TRANSFERS: The Register of Stock will be kept at the Reserve Bank of that for the purposes of the Finance Emergency Regulations 1940 (No. 2) New Zealand, Wellington, where transfers will be registered without payment he will not regard any person as having subscribed in due proportion to his of any fee. Stock will be transferable in amounts of 85 or multiples thereof. means unless such person has subscribed to this Loan at least the amount of the income-tax payable by him in respect of income derived during the year CERTIFICATES OF TITLE. If Certificates of Title evidencing ownership ended 31st March, 1939, being , the tax normally payable in February, 1940, of the stock are required applications should be made on the prescribed forma decreased in the case of individuals by E50 and in the case of companies by No fee is payable for the issue of a Certificate of Title. 870. For the purposes of computing this minimum subscription, which must be calculated to the nearest multiple of E10, any income that was free of INTEREST: Interest on stock of this issue will not commence until the income-tax in the hands of the recipient shall be deemed to have been subject Ist October, 1943. Thereafter interest will be paid half-yearly on the Ist April to such taxation: The tax-free income which would be taken into account in and the Isc October: the first payment, being a full six months' interest at this way includes dividends other than those from companies incorporated in the rate of 24 per cene: per annum, will be made on the Ist April, 1944. New Zealand, interest from tax-free Government Stock and from tax-free Interest will be paid free of inland exchange by means of interest warrants, company debentures, tax-free income derived from abroad, and also farming which will be transmitted by post at the risk of the stockholder. The Reserve income where the land used had an unimproved value of less than {3,000. Bank of New Zealand will accept directions from stockholders for payment of interest to any agent in the Dominion; existing instructions for the payment TRUSTEE PROVISION. The Trustee Act; 1908, authorizes trustees to invest of interest in the Dominion will obtain in respect of this Loan. in Government securities, and special provisions affecting trustees are contained in Regulation 20 of the Finance Emergency Regulations 1940 (No. 2) , the STAMP DUTY. Transfers of stock of this issue will be exempt from Stamp effect of which is that no obligation or limitation imposed on any trustee by Duty. virtue of any trust, instrument, or otherwise shall prevent or excuse him from compliance with any direction, notice, or requirement under those Regulations. MINORS. Any person of the age of ten years or upwards may be registered as the holder of stock and may execute transfers thereof. RIGHT TO CONVERT EXISTING INTEREST-FREB LOANS: Any Person who prior to the issue of this Prospectus has made a loan free of EXCHANGE ON REMITTANCES. Cheques in payment of amounts sub interest to the Government for the purposes of the War Expenses Account scribed to this Loan will be accepted free of inland exchange. established under Part I of the War Expenses Act; 1939, may apply to convert such loan in whole or in part into an equivalent amount of stock of this issue, CASH APPLICATIONS: Cash Applications, on the prescribed form, will be in which case (but not otherwise) the amount of such original loan thus con received at the Reserve Bank of New Zealand, Wellington; at the Districe verted will be regarded as a contribution to this Loan. Treasury Offices at Auckland, Christchurch, or Dunedin; at any branch of Any person who makes or has made a gift to the War Expenses Account may any Bank in the Dominion, or at any Postal Money-order Ofice in New reduce his contribution to this loan by the amount of such gift: Zealand. The RESERVE BANK OF NEW ZEALAND gives notice that; on behalf of Applications must be for sums of 810 or for a multiple thereof; and must be the Minister of Finance, ic is authorized to receive applications for the issue accompanied by a deposit of 830 per cent. of the nominal amount of stock of stock in terms of this Prospectus. applied for. Default in payment at its proper date of any instalment will render any OBJECT OF LOAN: The proceeds of the issue will be paid into the War amounts previously paid liable to forfeiture and the allotment to cancellation, Expenses Account established under Part I of the War Expenses Act, 1939 and the applicant will not be regarded as having contributed to this Loan. REPAYMENT. The loan will be repaid at par at the Reserve Bank of New Prepayment in full or in part may be made at any time. Zealand, Wellington, on the 1st October, 1953, but any stock issued to a person in response to an application made in terms of this Prospectus will be accepted CONVERSION OFFER. Persons who prior to this issue of this Prospectus at par at any time before maturity in payment of death duties in respect of have made loans free of interest to the Government for the purposes of the that person S estate. War Expenses Account established under Part I of the War Expenses Act, 1939, are offered conversion into an equal nominal amount of stock of The ultimate repayment of the Public Debt of the Dominion is, in the main, this issue. provided for under the Repayment of the Public Debt Act, 1925, in pursuance of which New Zealand' $ debt-reduction resources shall be applied in the pur- Persons wishing to avail themselves of the offer of conversion in accordance chase and redemption of New Zealand Government securities at or before with the terms set forth in this Prospectus must transmit their applications on maturity. For this purpose there is issued annually out of the Consolidated the prescribed forms, accompanied by relative documents of title, if any, to Fund a sum equal to 2 per cent: of the Debt affected, and to this is added the Reserve Bank of New Zealand, Wellington. a sum equal to interest at 3 4 per cent. per annum of the Debt paid of under Copies of this Prospectus and forms of cash application may be obtained at this scheme. The Repayment of the Public Debt Act applies to the major portion of the Dominion S Debt; certain loans for which adequate sinking-fund the Reserve Bank of New Zealand, Wellington; at the District Treasury Offices provisions are specifically provided, and also the portion of New Zealand' $ at Auckland, Christchurch, or Dunedin; at any branch of any Bank in the War Debt funded with the Imperial Government, having been excluded from Dominion; at any Postal Money-order Office in New Zealand; Oc from members of any Stock Exchange in the Dominion. the Debt Repayment Scheme. Forms of application for the conversion offer are obtainable at the Reserve SECURITIES: New Zealand Government Stock transferable by Memorandum Bank of New Zealand, Wellington, only. of Transfer will be issued on or after the 25th March, 1941, on surrender of fully-paid Allotment Letters. An advertisement authorised by the Reserve Bank of New Zealand, Wellingtons 26th Septembers 1940 THE LIST OF APPLICATIONS WILL BE CLOSED ON I8th OCTOBER, 1940