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A compendium of official documents relative to native affairs in the South Island, Volume One.

No. 35. — No. II.—Supplemental Charter, 4th August, 1843

page 48

No. 35.
No. II.—Supplemental Charter, 4th August, 1843.

Victoria, by the Grace of God, of the United Kingdom of Great Britain and Ireland, Queen, Defender of the Faith, to all to whom these presents shall come, greeting: Whereas, under and by virtue of certain Letters Patent under the Great Seal of Great Britain, bearing date the twelfth day of February, in the fourth year of our reign, we have, of our especial grace, certain knowledge, and mere motion, given, granted, and ordained, that certain persons therein named or referred to should be one body corporate and politic, by the name of "The New Zealand Company," to be established for certain purposes therein mentioned, and have all and every the powers therein set forth to enable them to carry such purposes into effect: And whereas the said New Zealand Company have humbly besought us to extend the powers in our said Letters Patent hereinbefore recited contained:

2.Now know ye, that we, of our especial grace, certain knowledge, and mere motion, have granted, ordained, and declared, and by these presents, for us, our heirs and successors, do grant, ordain, and declare that the Court of Directors of the said Company shall have power, at any time or times hereafter, and from time to time, with the consent of a Court of Proprietors specially convened for that purpose in manner directed by our said recited Letters Patent, to borrow and raise at any lawful rate of interest any sum or sums of money not exceeding in the whole five hundred thousand pounds, upon the security and credit of any portion of the subscribed capital of the said Company for the time being, not at such time called up; and of the profits of the undertaking; and of the lands, tenements, hereditaments, and other property for the time being of the said Company; or any or either of such proposed securities, or of any portion thereof, respectively.
3.And for all and every or any of the foregoing purposes, to grant, execute, and issue debentures under the seal of the said Company, or to mortgage or charge all or any parts of the said proposed securities or any of them, and to affix the seal of the said Company to all such deeds and other legal instruments as may, in the opinion of the said Directors, be requisite for the more completely effecting all or any of the purposes aforesaid.
4.And it shall not be incumbent on any mortgagee to ascertain or inquire whether the money so advanced be required for or towards making up the amount for the time being authorized to be raised by way of mortgage; but the circumstance of the same being borrowed or taken up by the Court of Directors shall, as between such mortgagee and all claiming from, through, or under him and the Company, be conclusive evidence of the fact.
5.That in case the whole or any part of the said sum of five hundred thousand pounds, hereby authorized to be rained on mortgage, shall have been raised, and the Company or the Court of Directors shall afterwards be required or shall be desirous to pay off, or shall have paid off, the whole or any part of the principal sum secured by such mortgages or debentures, or any of them, then and in every such case it shall be lawful for the Court of Directors, with the consent of a Court of Proprietors specially convened as aforesaid for such purpose, and either immediately or at any time thereafter, to raise a further sum or sums, at the like or such other rate of interest as the Court may think proper, and so from time to time as often as the same shall happen; but so, nevertheless, that there shall not be borrowed or owing, under and by virtue of our said recited Letters Patent, or of these presents, for principal upon mortgage at any one time more than five hundred thousand pounds in the whole.
6.In witness whereof, we have caused these our Letters to be made patent.

Witness ourself, at our Palace at Westminster, this fourth day of August, in the seventh year of our reign.

By Writ of Privy Seal.

Edmunds.

(l.s.)