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1950 NEW ZEALAND
REPAYMENT OF THE PUBLIC DEBT REPORT AND STATEMENT OF ACCOUNTS OF THE PUBLIC DEBT COMMISSION FOR THE YEAR ENDED 31st MARCH, 1950
Presented to Both Houses of the General Assembly in Compliance with Section 20 (2) of the New Zealand Loans Amendment Act, 1947
By Authority: R. E. Owen, Government Printer, Wellington. —1950.
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REPORT I>GUX d M A J A CI W 111 T'l
Wellington, 12th July, 1950. The Public Debt Commission has the honour to lay before Parliament the statement of accounts and a report of its proceedings for the year ended 31st March, 1950. In terms of section 14 of the New Zealand Loans Amendment Act, 1947, the sum of £4,723,040 19s. 9d. was paid to the credit of the Loans Redemption Account from the Ordinary Revenue Account of the Consolidated Fund, and this sum, together with the balance at the beginning of the year (£764,023 16s. 10d.), was utilized in the discharge from the public debt of securities of a nominal amount of £5,487,064 16s. 7d. as per statement hereunder. Statement of Accounts Receipts Balance at beginning of year— £ s. d. £ s. d. Cash, being portion of balance of Loans Redemption Account as at Ist April, 1949 .. .. .. .. .. 764,023 16 10 New Zealand Loans Amendment Act, 1947. section 11 (&) — Annual contribution from the Consolidated Fund in respect of the defined portion of the public debt— One-half per cent, of the total amount of the defined portion of the public debt outstanding at 31st March, 1949 .. .. .. .. 2,724,971 15 9 Four per cent, of the total amount of the defined portion of the public debt repaid or redeemed to 31st March, 1949 .. .. .. .. 1,998,069 4 0 4,723,040 19 9 £5,487,064 16 7 Payments New Zealand Loans Amendment Act,' "1947, "section 12 (6)— Redemption of securities — Securities redeemed at maturity— £ . s. d. £ s. d. 2|-per-cent. stock to mature 15th June, 1947-49 .. .. 1,077,510 0 0 Securities redeemed before maturity — 2J-per-cent. stock to mature 15th February, 1949-50 .. .. .. .. 695,285 0 0 4-per-cent. stock to mature 15th May, 1949-52 .. 3,714,269 16 7 4,409,554 16 7 £5,487,064 16 7 The capital accounts which have been relieved of liability due to the above redemptions are : £ s. d. (1) War Expenses Account .. .. .. .. 1,772,795 0 0 (2) War Loans 1914-18 Account .. .. .. 3,714,269 16 7 £5,487,064 16 7
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The following certificate was furnished by the Controller and Auditor-General:—■ Pursuant to section 9 of the New Zealand Loans Amendment Act, 1947, I hereby certify that — (a) The total amount of the public debt outstanding at the end of the financial year ended on the 31st day of March, 1950, was six hundred and seventy million seventy-one thousand three hundred and forty-one pounds twelve shillings and fourpence (£670,071,341 12s. 4d.). (b) The total amount outstanding at the end of the financial year aforesaid in respect of the defined portion of the public debt was five hundred and sixty-seven million nine hundred and ninety-fivp thousand three hundred and fifty-nine pounds fourteen shillings and eightpence (£567,995,359 14s. Bd.). (c) The amount of the public debt repaid or redeemed under the provisions of paragraph (b) of section 12 of the above-mentioned Act within the financial year aforesaid was five million four hundred and eighty-seven thousand and sixty-four pounds sixteen shillings and sevenpence (£5,487,064 16s. 7d.), and the aggregate amount of the public debt that has been so repaid or redeemed under the provisions of section 12 (b) referred to above and of the Repayment of the Public Debt Act, 1925, since the Ist day of April, 1925, to the 31st day of March, 1950, was fifty-five million four hundred and thirty-eight thousand seven hundred and ninety - four pounds seventeen shillings and sixpence (£55,438,794 17s. 6d.). Controller and Auditor-General. Chairman, Public Debt Commission,
A-pproximaU Cos of Paper.—Preparation, not given- printing (711 copies), £5.
By Authority: R. E. Owen, Government Printer, Wellington. —1950.
Price 3d.]
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Bibliographic details
REPAYMENT OF THE PUBLIC DEBT REPORT AND STATEMENT OF ACCOUNTS OF THE PUBLIC DEBT COMMISSION FOR THE YEAR ENDED 31st MARCH, 1950, Appendix to the Journals of the House of Representatives, 1950 Session I, B-02
Word Count
645REPAYMENT OF THE PUBLIC DEBT REPORT AND STATEMENT OF ACCOUNTS OF THE PUBLIC DEBT COMMISSION FOR THE YEAR ENDED 31st MARCH, 1950 Appendix to the Journals of the House of Representatives, 1950 Session I, B-02
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