4Conversion of debentures into stock, and renewal of maturing stock

4 Conversion of debentures into stock, and renewal of maturing stock

4 Conversion of debentures into stock, and renewal of maturing stock

(1) The Governor may:

(a) declare any debentures, wherever payable, issued under the authority of any Act, whenever passed, to be convertible into stock issued in New South Wales or to be renewable by the issue of other debentures, and

(b) declare any maturing stock, wherever payable, issued under the authority of any Act, whenever passed, to be renewable by the issue in New South Wales or in London of other stock or to be convertible into debentures.

And any such declaration on being published in the Gazette shall have the force of law.

(2) The Governor may create and issue in New South Wales or in London debentures or stock for the purpose of such conversion or renewal, and of paying any expenses in connection therewith.

s 4: Am 1914 No 30, sec 3 (a)–(c).