1 EDW. VIII.] Southland Electric-power Supply [1936, No. 25.
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1 1 EDW. VIII.] Southland Electric-power Supply [1936, No. 25. Title. ANALYSIS. Short Title. Interpretation. Authorizing Minister of Finance to repay moneys owing in London by Southland Electric - power Board. Board's debt to Provisions as to repayment by Board of its debt to the 10. Poll of ratepayers to be taken on! proposal that the Board's under- I 11. taking be acquired by I Ratepayer to make declaration. Provisions to apply if poll in favour of acquisition by On transfer to the Crown, the Board's undertaking to be carried 011 under State Supply of Electrical Energy Act, Minister may borrow moneys required for purposes of this Act. Regulations. Schedule. 1936, No. 25. AN ACT to make Special Provisions in respect of the Title. Affairs of the Southland Electric-power Board and the Supply of Electric Power in Southland. [27th August, BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows : 1. This Act may be cited as the Southland Electric- short Title, power Supply Act, In this Act Interpretation. " Board " means the Southland Electric - power Board constituted under the Electric-power see Reprint Boards Act, 1925 : vottu^'4 District" means the Southland Electric-power District:
2 NO. 25.] Southland Electric-power Supply [1 EDW. VIII. See Reprint of Statutes, Vol. Ill, p. 89 Authorizing.Minister of Finance to repay moneys owing in London by Southland Klectric-power Board. Board's debt to Provisions as to repayment by Board of its debt to the '" Electric Supply Account " means the Electric Supply Account established under the State Supply of Electrical Energy Act, 1917 : "' Minister " means the Minister of Finance : " Ratepayers "* means the ratepayers of the district. 3. (1) The Minister is hereby empowered, without further appropriation than this section, to pay out of the Public Account, on behalf of the Board, such sums as may be necessary to repay any moneys borrowed by the Board in London and for the time being outstanding. (2) On the repayment of the moneys aforesaid by the Minister, the Public Trustee shall be deemed to hold, on account of the Minister, the accumulated sinking funds held by him as Commissioner of the Board's sinking funds established in respect of the said moneys, and shall, if and when directed by the Minister so to do, pay the same into the Public Account to the credit of the Electric Supply Account. 4. On payment by the Minister in accordance with the last preceding section of the moneys borrowed by the Board in London, the sum of one million three hundred and thirty-two thousand pounds (being the sum which the Board proposed to borrow in London for the repayment of those moneys) shall be deemed to be a debt owing in London by the Board to the 5. (1) With respect to the aforesaid sum of one million three hundred and thirty-two thousand pounds, the following special provisions shall apply : (a) The Board shall, at such half-yearly or other intervals as may be determined by the Minister, pay into the Public Account interest on the said sum at the rate of three and one-half per centum per annum, together with an amount equal to the amount that would be payable by way of exchange if the interest were payable in London: (b) The Board shall also, by such annual or other instalments as may be determined by the Minister, pay into the Public Account, by way of sinking fund, the sum of four pounds two shillings per centum per annum of the aforesaid sum of one million three hundred and thirty-two thousand pounds :
3 1 EDW. VIII.]Political D i s a b i l i t i e spumoval [1936, No (c) If default is made by the Board in the full and punctual payment of any moneys payable under this section, the Board shall be liable to a penalty equal to five per centum of the amount in respect of which default is so made, and such penalty shall be recoverable as a debt due to the (2) All moneys paid by way of sinking fund under paragraph, (b) of the last preceding subsection shall be credited to the Electric Supply Account, and may be used in the repayment of any moneys borrowed for the purposes of that Account. (3) The Board may at any time after the fifteenth day of March, nineteen hundred and forty-nine, on giving to the Minister not less than six months' notice in writing of its intention so to do, repay the amount owing by it to the Crown, and for the purpose of computing the amount owing the following special provisions shall apply, namely : (a) The amounts theretofore paid by the Board to the Public Account by way of sinking fund shall be deemed to have been accumulated at compound interest at the rates payable from time to time on sinking-fund moneys accepted for investment in the Common Fund of the Public Trust Office: (b) From the amount so accumulated there shall be deducted a sum sufficient to transmit the balance to London at the then current rate of exchange, and the amount of such balance shall be deducted from the sum of one million three hundred and thirty-two thousand pounds : (c) The amount required to pay off the debt of the Board to the Crown shall be the residue, after making the deduction in accordance with the last preceding paragraph, together with the sum sufficient to transmit that amount to London at the then current rate of exchange. 6. (1) As soon as possible after the passing of this p0iiof Act a poll of the ratepayers of the district shall be taken ratepayers to be i i i i f taken 011 on a proposal that the undertaking of the Board (together proposal that with all its assets and liabilities) be acquired by the ^ a ^ g be Government of New Zealand on behalf of the acquired by
4 No. 25.] Southland Electric-power Supply [1 EDW. VIII. Ratepayer to make declaration. Provisions to apply if poll in favour of acquisition by (2) At tlie poll to be taken under this section the proposal shall be submitted in the form in the Schedule hereto. (3) Every ratepayer in the district shall be entitled to one vote only, notwithstanding that lie may be the occupier of more than one rateable property in the district. (4) The proposal shall be deemed to be carried if a majority of the valid votes recorded at the poll is in favour thereof, but not otherwise. (5) For the purposes of the poll under this section an officer of the Public Service shall be appointed as Returning Officer, and the Returning Officer shall make all necessary arrangements for the conduct of the poll. (G) For the purposes of the poll every local authority within the district shall make its roll of ratepayers available to the Returning Officer, and shall, on demand, supply to the Returning Officer such information and render such clerical or other assistance as he may require. (7) The poll under this section shall be taken by postal ballot, and the Minister shall, by notice to the Returning Officer, fix a day as the latest day on which the completed voting-papers may be received bv the Returnino- Officer. (8) On the completion of the poll the Returning Officer shall make a declaration as to the result thereof, and shall forward the same to the Minister, who shall cause notice thereof to be published in the Gazette. (9) The notice published in the Gazette shall be conclusive evidence of the result of the poll. (10) The cost of the poll shall be paid out of moneys to be appropriated by Parliament for the purpose. 7. (1) Every ratepayer, on recording his vote at the poll to be taken under this Act, shall sign a declaration, in the form set out in the Schedule hereto, to the effect that he has not recorded more than one vote at the poll. (2) Every person who makes a false declaration under this section shall be liable on summary conviction to a fine of twenty-five pounds. 8. (1) If at the poll taken under this Act the proposal is carried that the undertaking of the Board be acquired by the Government of New Zealand on behalf of the Crown, the Governor-General may by Order in Council declare that, on a date to be fixed in that behalf,
5 1 EDW. VIII.] Southland Electric-power Supply [1936, No the district shall be abolished and the Board thereof dissolved. (2) On the date so fixed the following provisions shall have effect, namely : (a) The district shall be deemed to be abolished and the Board shall be deemed to be dissolved in accordance with the tenor of the Order in Council: {b) All lands or other property, whether real or personal, belonging to the Board shall become vested in His Majesty the King for the estate or interest for which they were held by the Board, subject, however, to all charges, encumbrances, or other estates or interests then affecting the same : (c) All rights, liabilities, and engagements of the Board (including rights in respect of any unpaid rates or other moneys payable to the Board) shall become rights, liabilities, and engagements of the Crown : (d) All proceedings pending by or against the Board may be carried on and prosecuted by or against the Crown : (e) All references to the Board in any Act, or in any agreement, deed, instrument, application, license, notice, or other document whatsoever, shall, unless inconsistent with the context or with the provisions of this Act, be thereafter read as references to the Minister of Public Works : (/) All moneys which have been borrowed by the Board or by any other public body under the authority of the Electric-power Boards Act, 1925, or any other Act, and for which the Board is liable, shall be deemed to have been borrowed by the Government of New Zealand on the security of and charged on the public revenues of New Zealand, and the provisions of the New No. 23. Zealand Loans Act, 1932, shall apply thereto accordingly. Any interest accrued but unpaid in respect of the said moneys before the date fixed as aforesaid for the dissolution of the Board shall, without further appropriation than this section, be payable out of the Consolidated Fund :
6 No. 25.] Southland Electric-power Supply [1 EDW. VIII. On transfer to the Crown, the Board's undertaking to be carried on under State Supply of Electrical Energy Act, Minister may borrow moneys required for purposes of this Act. (g) The Public Trustee shall, as and when directed by the Minister of Finance, pay into the Public Account to the credit of the Electric Supply Account all moneys held by him as Commissioner of the Board's sinking funds or depreciation funds. (3) If the title to any land which by this Act is vested in the Crown is subject to the provisions of the Land Transfer Act. 1915, the District Land Registrar shall, on the application of the Minister of Public Works, register His Majesty the King as the proprietor thereof for the estate and interest therein of the Board, and for the purposes of this section the certificate of the said Minister that any property is vested in the Crown by virtue of this Act shall be accepted by the District Land Registrar as sufficient evidence of the fact so certified. 9. On the transfer to His Majesty of the property of the Board in accordance with the last preceding section, the undertaking theretofore carried on by the Board shall be carried on by the Minister of Public Works in accordance with the provisions of the State Supply of Electrical Energy Act, 1917, and the undertaking and any extensions thereof that may thereafter be made by the said Minister shall, as that Minister may determine, be deemed to be a scheme approved by him in accordance with that Act or be deemed to form part of an existing scheme thereunder. 10. (1) In addition to all moneys which the Minister of Finance lias heretofore been authorized to borrow for the purposes of the State Supply of Electrical Energy Act, 1917, the said Minister may borrow, on the security of and charged upon the public revenues of New Zealand, such sums of money as he thinks fit, not exceeding in the aggregate the sum of one million seven hundred thousand DO pounds. (2) The sums so borrowed shall bear interest at such rate as the Minister of Finance prescribes. (3) x4.ll moneys borrowed under the authority of this section shall, as and when borrowed, be paid into the Public Account to the credit of the Electric Supply Account, and may from time to time be applied for the purposes of this Act. (4) This section shall be deemed to be an authorizing Act within the meaning of the New Zealand Loans Act,
7 1 EDW. VIII.] Southland Electric-power Supply [1936, No , and the moneys herein authorized to be borrowed shall be borrowed under and subject to the provisions of that Act accordingly. 11. The Governor-General may from time to time, Regulation by Order in Council, make regulations for the purposes of the poll to be taken under this Act, and may make all such other regulations as may be deemed necessary for the purpose of giving full effect to this Act. SCHEDULE Schedule. VOTING-PAPER ON PROPOSAL THAT THE SOUTHLAND ELECTRIC-POWER BOARD'S UNDERTAKING BE ACQUIRED BY THE GOVERNMENT OF NEW ZEALAND. 1. I vote that the undertaking of the Southland Electric-power Board (including all its assets and liabilities) be acquired by the Government of New Zealand. 2. I vote that the undertaking of the Southland Electric-power Board be retained by the Board. Directions to Voter. (1) The voter shall strike out the proposal for which he does not wish to vote. (2) Every voter shall have one vote only, notwithstanding that he may be a ratepayer in respect of more than one property. Form of Declaration to be signed by Ratepayer. I hereby declare that I am a ratepayer of the Southland Electricpower District, and that this is the only vote recorded by me on the proposal herein. [,Signature of Voter.] [NOTE. The penalty for a false declaration is a fine of 25.']
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