the Local Loans Fund, and shall be repaid within such period (not exceeding fifty years from the date thereof) as the Treasury and the Secretary of State determine in each case, and either by means of equal instalments of principal, or by means of an annuity of principal and interest combined as may be similarly determined. 2.-(1.) An advance shall not be made in pursuance of this Act until the Legislative authority of the Colony or place to the Government of which the advance is to be made have provided to the satisfaction of the Treasury and the Secretary of State (a.) For raising and appropriating and duly applying the loan; (b.) For charging on the general revenues and assets of the Colony, with priority over any subsequent charges, the principal of the loan; and (c.) For so charging and also for remitting to the Treasury in such manner as the Treasury determine (i.) Such yearly or half-yearly payments on account of the interest on, and the repayments of the principal of, the loan as the Treasury fix; and (ii.) Interest at such rate as the Treasury fix on any such payment in arrears; and (d.) For raising or securing the raising of sufficient revenue to meet the above charges. (2.) Every Act or Ordinance of the Legislative authority of the Colony or place which in any way impairs the validity or priority of any such charge, or diminishes the revenue to be raised as above mentioned, shall, so far as it impairs or diminishes the same, be void unless the consent of the Treasury and the Secretary of State has been previously obtained. 66 3. This Act may be cited as The Colonial Loans Act, 1899." ACT of the British Parliament, to make provision for certain Payments to be made in connection with the revocation of the Charter of the Royal Niger Company. [62 & 63 Vict., c. 43.] [August 9, 1899.] WHEREAS the National African Company (Limited) (now called the Royal Niger Company) was by a Charter dated the 10th day of July, 1886, incorporated with power, among other things, to make Treaties and to administer territories; And whereas it is proposed to transfer to the Crown the administrative powers of the said Company, and the benefit of the Treaties made by the Company, and the land, property, and mining and other rights acquired by the Company, but to reserve to them, subject to certain exceptions, their plant and trade assets and their stations, buildings, wharves, and work * Vol. LXXVII, page 1022. shops, and the sites thereof, and to revoke the Charter of the Company, and to make certain payments in consideration of the said transfer, and for meeting liabilities attaching to the territories administered by the Company; And whereas it is expedient to make provision for the payments so to be made : Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows: 1.-(1.) The Treasury shall issue out of the Consolidated Fund, or the growing produce thereof, such sums not exceeding in the whole the sum of 865,000l. as may be required for making the said payments. (2.) Before any money issued under this section is paid to the Royal Niger Company, the Company shall submit to the Treasury an account, with such details as may be required by the Treasury, of the sums due to the Company. 2.-(1.) The Treasury may, if they think fit, at any time for the purpose of providing money for the issue of sums out of the Consolidated Fund under this Act, or repaying to that fund all or any part of the funds so issued, borrow money to the extent of 820,000l. by means of terminable annuities for such period not exceeding thirty years from the passing of this Act as the Treasury may fix, and all sums so borrowed shall be paid into the Exchequer. (2.) The said annuities shall be paid out of the moneys annually provided by Parliament for the foreign and colonial services; and if those moneys are insufficient, shall be charged on and paid out of the Consolidated Fund, or the growing produce thereof, but shall not be payable as part of the permanent annual charge for the National Debt. (3.) The Treasury shall, before the expiration of twelve months after the passing of this Act, cause to be made out and laid before the House of Commons an account of the money expended and borrowed; and the securities created under this Act and the accounts of expenditure under this Act shall be audited and reported upon by the Comptroller and Auditor-General as appropriation accounts in manner directed by "The Exchequer and Audit Departments Act, 1866." 3. Until the money issued out of the Consolidated Fund for the purpose of this Act and interest thereon has been wholly repaid to the Exchequer, and thereafter until Parliament may otherwise direct, all such sums as the Treasury determine to be receipts from the territories administered by the Company at the passing of this Act, in excess of the necessary expenses of the administration of those territories, shall be paid into the Exchequer, save so far as those sums are with the approval of the Treasury applied towards the development and improvement of those territories. 4. This Act may be cited as "The Royal Niger Company Act, 1899." BRITISH ORDER IN COUNCIL, applying "The Colonial Probates Act, 1892," to the Island of Grenada.—Osborne, February 3, 1898.* At the Court at Osborne House, Isle of Wight, the 3rd day of February, 1898. PRESENT: THE QUEEN'S MOST EXCELLENT MAJESTY. Lord President. Lord Arthur Hill. Mr. Akers-Douglas. WHEREAS by the first section of "The Colonial Probates Act, 1892," it is enacted as follows :— "Her Majesty the Queen may, on being satisfied that the Legislature of any British possession has made adequate provision for the recognition in that possession of probates and letters of administration granted by the Courts of the United Kingdom, direct by Order in Council that this Act shall, subject to any exceptions and modifications specified in the Order, apply to that possession, and thereupon, while the Order is in force, this Act shall apply accordingly;" And whereas Her Majesty is satisfied that the Legislature of the British possession hereinafter mentioned has made adequate provision for the recognition in that possession of probates and letters of administration granted by the Courts of the United Kingdom: Now, therefore, Her Majesty, by virtue and in exercise of the powers by the above-recited Act in Her Majesty vested, is pleased, by and with the advice of her Most Honourable Privy Council, to order, and it is hereby ordered, as follows: * "London Gazette," February 8, 1898. "The Colonial Probates Act, 1892,"* shall apply to the British possession hereunder mentioned: The Island of Grenada. And the Right Honourable Joseph Chamberlain, one of Her Majesty's Principal Secretaries of State, is to give the necessary directions herein accordingly. C. L. PEEL. BRITISH ORDER IN COUNCIL, applying "The Colonial Probates Act, 1892," to the Island of St. Vincent.— Windsor, May 19, 1898.† At the Court at Windsor, the 19th day of May, 1898. PRESENT: THE QUEEN'S MOST EXCELLENT MAJESTY IN COUNCIL. WHEREAS by the first section of "The Colonial Probates Act, 1892," it is enacted as follows: "Her Majesty the Queen may, on being satisfied that the Legislature of any British possession has made adequate provision for the recognition in that possession of probates and letters of administration granted by the Courts of the United Kingdom, direct by Order in Council that this Act shall, subject to any exceptions and modifications specified in the Order, apply to that possession, and thereupon, while the Order is in force, this Act shall apply accordingly;" And whereas Her Majesty is satisfied that the Legislature of the British possession hereinafter mentioned has made adequate provision for the recognition in that possession of probates and letters of administration granted by the Courts of the United Kingdom: Now, therefore, Her Majesty, by virtue and in exercise of the powers by the above-recited Act in Her Majesty vested, is pleased, by and with the advice of her Most Honourable Privy Council, to order, and it is hereby ordered, as follows: "The Colonial Probates Act, 1892,"* shall apply to the British possession hereunder mentioned: The Island of Saint Vincent. And the Right Honourable Joseph Chamberlain, one of Her * Vol. LXXXIV, page 700. |