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The Pamphlet Collection of Sir Robert Stout: Volume 7
Amended Rules
Amended Rules,
| 1. | That Table C and subjoined Tables E and G shall henceforth form part of the Rules of the Permanent Investment and Loan Association of Canterbury. |
| 2. | That any applicant for a Loan upon Mortgage shall, in addition to the matters required by the existing Rules of the said Association to be set forth in the schedule to the application to be given to the Manager of the said Association by such applicant, state under which Class of the respective Tables C, E, or G, he desires to repay the said loan, and that on the granting of any loan the repayment thereof may be made in instalments, in accordance with either of the said Tables as shall be agreed upon between such applicant and the Board of Directors of the said Association. And that all existing Rules and Regulations of the said Association shall apply, and all Mortgages which may hereafter be given by any borrower from the said Association shall be framed and made applicable in all respects to loans repayable under any of the said Tables C, E, or G. |
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Table E.
Showing Borrower's Repayments per Share of £50—Principal and Interest included—when Current Rate is 9 per cent.
Table F illustrates how much of each monthly payment per share of £50 referred to in Table E is applied in reduction of loan.
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Table F.—Showing how much of each Monthly Payment per Share of £50 Under Table E is applied in reduction of loan.
For Quarterly Payments three times the above amounts.
For Half-yearly Payments six times the above amounts.
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Table G. Showing Borrower's Repayments 'per Share of £ 50—Principal and Interest included—when Current Rate is 10 per cent.
Table H illustrates how much of each monthly payment per share of £50 referred to in Table G is applied in reduction of loan.
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Table H.—Showing how much of each Monthly Payment per Share of £50, Under Table G, it applied in reduction of loan.
For Quarterly Payments, three times the above amounts.
For Half-yearly Payments, six times the above amounts.
The foregoing Amendments to the Rules of The Permanent Investment and Loan Association of Canterbury, are in conformity with law, and with the provisions of "The Building and Land Societies' Acts" Dated 2nd July, 1876.
