Page:Statutes of Canada, Victoria 31, Part 1.djvu/51



30º & 31º VICTORIÆ, Cap. 16.

* Government of Canada, in such other securities as may be proposed by that Government and approved by the Commissioners of Her Majesty's Treasury, and to be applied under the direction of the Commissioners of Her Majesty's Treasury in discharge of principal money whereon interest is guaranteed ;
 * For charging the Consolidated Revenue Fund of Canada with the amount of the Sinking Fund immediately after the principal and interest of the loan :
 * For charging the Consolidated Revenue Fund of Canada with any sum issued out of the Consolidated Fund of the United Kingdom under this Act, with interest thereon at the rate of five per centum per annum immediately after the Sinking Fund ;
 * For continuance of the Sinking Fund until all principal and interest of the loan, and all sums issued out of the Consolidated Fund of the United Kingdom under this Act, and all interest thereon, are fully discharged, or until the Sinking Fund and its accumulations are adequate to discharge so much thereof as remains undischarged ;
 * For the raising by the Government of Canada (without guarantee by the Commissioners of Her Majesty's Treasury) of all such money (if any) beyond the sum of three million pounds sterling as, in the opinion of one of Her Majesty's Principal Secretaries of State, will be requisite for the construction of the railway, and for charging the Consolidated Revenue Fund of Canada with the money so raised, and interest, immediately after the charges made thereon in pursuance of the foregoing provisions of this section.

Statement and account to be laid before houses of Parliament. 4. There shall be laid before both Houses of Parliament within fourteen days next after the beginning of every session, a statement and account showing what has been done from time to time in execution or pursuance of this Act by or under the direction of the Commissioners of Her Majesty's Treasury, and one of Her Majesty's Principal Secretaries of State, and the Parliament and Government of Canada.

Short title. 5. This Act may be cited as The Canada Railway Loan Act, 1867.