Inscribed Stock (Issue and Renewals) Act 1912
7AIssue of Treasury Bills
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7A Issue of Treasury Bills
7A Issue of Treasury Bills
s 7A, hdg: Ins 1914 No 30, sec 2. Rep 1999 No 31, Sch 5.50 [1].
(1) Pending the issue of stock or debentures under the authority of this Act for conversion or renewal of maturing debentures or stock, the Governor may, by the issue of Treasury Bills secured upon the Consolidated Revenue Fund, raise such sums of money not exceeding in the whole the amount of moneys authorised to be raised for such conversion or renewal.
(2) Such Treasury Bills shall bear interest at a rate not exceeding eight dollars per centum per annum, and shall have such currency, not exceeding five years, as the Governor may direct: Provided that any such bills issued within twelve months after the passing of the Inscribed Stock (Renewals) Amendment Act 1914, may bear interest at a rate exceeding eight dollars per centum per annum.
ss 7A–7C: Ins 1914 No 30, sec 2.