Issue Finally Passed by Legislative Yuan Nanking, Feb. 20.
'The following is the oficial trans lation of the regulations governing, the 25th Year (1936) Consolidation Loan for $1,460,000,000, which was finally passed by "the Legislative Yuan' on the 7th inst:—Art. 1—-With a view to the unifieation and refunding of all. existing internal loan bonds, treasury notes and. treasury certificates, the "Na-Yonat Government authorizes the issue through the Ministry of Fine lance of a loan to be known as "the 25th Year Consolidation Loa Art. 2—The total amount of this oan shalt be fixed at $1,400,000,000, fo be divided into five classes of bonds, viz, Class "A" of a total of $150,000900; Class." $160,000,000; Class "C" ' $250,000,000; Class $33t00.00; and Chas "E" $200000, smart 3-Classfcation of' old bonds, treasury notes, and treasury certideates for the purpose of exchange for bonds of the Consolidation Loan. shall take into account the original periods and priority of redemption, and shall be in five groups, ab fol.
TA), The 22nd Year Patriotic Treas ury Notes, Short Term Treasury Certificates, 18th Year Customs Revenue Treasury Notes, 22nd. Year North China War Zone Relief Loan, Public Safety Bonds, and 19th Year [Customs Revenue Treasury Notes are fo be exchanged for bonds of Class ce (B). The 19th Year Rehabilitation Treasury Notes, 24 Million Treasury Notes, 24th Year Szechuan Currency Readjustment Treasury Notes, 23rd Year Customs Revenue Treasury Notes, and" the 20th-Year folled Tobacco Tax Treasury Noles are to be Jexchanged for bonds of Class "2k"
(C).. The 18th Year Military "Reorganization and Disbandment reas jury Noles, 20ih Year Consolidated Tax [Treasury "Notes, 20th Year Currency Short Term Loan, 20th Year Sail Revenue Treasury' Noles, 20th Year Kiangsu and Chekiang Sil Loan, 18th Year Famine Relief Loan, Military Supply Loan, 18th Year Troop Dis bandment Lan, and the 20% Year [Customs Revenue Treasury Notes are to be exchanged for bonds of Class (D), The 19th Year Customs Revence Loan, 7th Year 6 per cent, Loan, 20th Year Flood Relief Loan, italian indemnity Fund Certifientes, 24th Year Currency Loan, 28rd Year Customs Revenue Loan, Russian Fund Corti-'Beales, and Consolidated Tax Corti flcales are to be exchanged for bonds (B). The 22nd Year Customs Revenue Treasury Notes, "24th Year Flood Labour Rotief Loan, 7 per cent. [Consolidated Loan, 6. per cent, Consolidated Loan, and 381h Year Spring Festival Treasury. Noles are ta, be exchanged for bonds of Class "E."
4—This Joan shall be issued the Reps Art. S—The rate of interest on this oan shalt be fixed at six per cent.
annum, payable on January 3 for Close "A'
Class "B" bonds 15 years: Class "C" Class "D" bonds
24 years. Amortizations by pub: Class bondi "@rawings shall take" place Jon January 31 and July 31 of each year and tke amount to be pald each shalt be in accordance with the amortization tables.
Art. 7—The redemption of principal and. payment of interest of this loan shalt be, as provided for in the ease old issues, secured on the remain= der of the Customs Revenue from the charges made for tke services of in-enmities "and foreign obligations. The Ministry of Finance shall instruct Inspector-General of Customs 9 make equal monthly instalments, la accordance with "the amortization, lables of all the five classes, 10 the [Central Bank of China to the credit of tke account of this lean in the ame of the National Loans' Sinking Fund Administrative Commission fo" the purpose of making such payments, 'AH, 8—The Central Bank of China and its' designated agents, viz, the Bank of China' and the Bani of Communications, shall be appointed paying agents of this loan.
Art. 9=The bonds of this loan shall be in four denominations, viz, $5,000, $1,000, $100, and $10.
Art. 10.—The bonds of this Joan shall be bearer bends. They may be ought, sold, mortgaged, or used as. security in public transactions when-fever such security or guarantee is. required, or used as fiduciary reserve banks, Art. 1i—Any person or persons attempting (0 forge or commit any act tending to injure the credit of the bonds of this loan shall be dealt with in accordance with law.
Art 12—These regulations shall come into force from the date of
Text read from the printed page and cleaned; old type leaves the occasional error.