8.—6

Copy of Prospectus of Victory Loan Dominion of New Zealand VICTORY LOAN OF £40,000,000 This Loan includes— (a) New Zealand Government Stock the issue of which is authorized in accordance with the New Zealand Loans Act, 1932: (b) Investments in National Savings Bonds and National Savings Accounts authorized in accordance with the National Savings Act, 1940. The proceeds of the Loan will be paid to the War Expenses Account established under Part I of the War Expenses Act, 1939. National War Savings 1. Any amount up to £1,000 in multiples of Is. will be accepted as a, deposit to a National War Savings Account; subject, however, to a maximum of £1,000 in any one investment period. Investment periods end on the 30th day of June in each year. Deposits made on or after the Ist July, 1944, and before the Ist July, 1945, will be repayable on the 30th June, 1947. Interest at the rate of 3 per cent, per annum is credited on the 30th June in each year, and such interest may be withdrawn within six months from that date. If not withdrawn, it is added to the principal. 2. National Savings Bonds (Victory Bonds) are offered for sale repayable five years from date of issue— Maturity Value Cost Price £ a. d. £100 .. .. .. .. 113 15 0 £10 .. . .. .. 11 7 6 £1 .. .. .. .. 12 9 Issue of Stock The acceptance of amounts by way of Advance Subscriptions to War-purposes Loans is discontinued as from the date of the Prospectus The Reserve Bank of New Zealand has been authorized by the Minister of Finance to receive applications for the issue of New Zealand Government Stock as under:--2ijr per Cent. Stock repayable 15th February, 1949/50. 3 per Cent. Stock repayable 15th February, 1955/58. Price of Issue: £100 per Cent. Offer opens 28th August, 1944. Closes 4th October, 1944 1. Applications.—Applications may be paid on the following terms: —- (a) In full at time of application. (b) £30 per cent, on application. £40 per cent, on the 22nd November, 1944. £30 per cent, on the 12th January, 1945. Any instalment due in terms of this Prospectus may be paid in advance of the due date, and interest at the rate stipulated will be allowed from the actual date of payment. 2. Securities. —New Zealand Government Stock will be issued in any of the following forms as may be directed by the applicant in the form of application: - (a) Ordinary Stock—transferable by Memorandum of Transfer without payment of any fee and free of Stamp Duty unless the transfer is by way of gift. Ordinary Stock may be exchanged for Stock Certificates to Bearer free of charge. (b) Death Duty Stock —not transferable. Death Duty Stock may be exchanged for Ordinary Stock. The executor or administrator of a deceased stockholder may in terms of section 40 of the New Zealand Loans _Act,_ 1932, surrender Death Duty Stock at par in payment of Death Duties in the estate of the deceased stockholder. (c) Stock Certificates —for any amount of not less than £50 with interest coupons annexed. When issued Stock Certificates will be payable to bearer and willbe transferable by delivery. The first or any subsequent holder may insert the name of a nominee, after which, the Stock Certificate will not be transferable. Stock Certificates payable to bearer or to a person named in the Certificate may at any interest date be converted into Ordinary Stock without the payment of any fee. Stock Certificates will be issued to applicants as soon as practicable after payment of the full amount applied for has been made.

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