B—l [Pt. T1

By the New Zealand Loans Amendment Act, 1947 (re-enacting the Repayment of the Public Debt Act, 1925), means are provided whereby the whole of the public debt other than that raised for State Advances purposes and other portions for which special statutory provision has been made will be extinguished in approximately sixty years from the time of coming under the provisions of the Act or, for subsequent loans, sixty years from the date of issue. The repayment scheme comprises an annual contribution from the Consolidated .Fund of £ per cent, of the debt coming within its provisions, together with an additional 4 per cent, of the debt redeemed under the 1925 Act and under paragraph (b) of section 12 of the 1947 Act. The total of loans coming within the repayment scheme as at 31st March, 1949 was £544,994,357 9s. 9d.

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, 5,000,000 0 0 1 Nov., 1971 5 250,000 Repayable at the option of the Government at par on or after 1st November, 1956, on three months' notice. 55,000,000 0 0 Various 1 550,000 Treasury bills. 535,023,530 16 3 79,962,101 0 0 16,716,404 £614,985, 631 16 3 £ s. d. Amount domiciled for repayment in New Zealand .. 534,395,304 16 3 Amount domiciled for repayment in Australia 628,226 0 0 (Australian currency, £779,000) Amount domiciled for repayment in London .. 79,962,101 0 0 £614,985,631 16 3 The above total securities charged on the public revenues and outstanding at 31st March, 1949, excludes debt as under : —- — London Debt. £ s. d. Advances from Imperial Government funded in terms of section 8 of the Finance Act, 1922 (interest suspended by agreement 24,100,199 10 7 with Imperial Government from 1931 ; no ' maturity date attaches to loan) Other debt (interest suspended by agreement with Imperial Government from 1931 ; loan matures 1st December, 1955) 2,090,909 1 9 £26,191,108 12 4