NEW BILLS.

Dominion, Volume 5, Issue 1268, 25 October 1911, Page 6

NEW BILLS.

LAND FOR SETTLEMENTS. IMPORTANT PROPOSALS. The Land for Settlements Amendment Bill proposes important.alterations in the law relating to tho compulsory acquisition of estates by the Government. Section 31 of tho Act' of 1003, which provided ipr the compensation to bo based upon the valuation for taxing purposes, is to bo repealed. Clause 7 ot the Bill states:—"ln estimating, for the purpose of awarding compensation, the viiiue of any land proposed to be taken compulsunly under the principal Act, tho Compensation Court shall not lake inlo consideration the fact' that the land is to Ijo taken eompulsorily, or make any addition to tho value by region of that fact', but shall determine the true and fair value ol tho land as at the date of tho gazetting of the requisition in the same manner as if no such compulsory acquisition was contemplated." As part of the system now to be abolished, the owner of an estate ha> the right of increasing the valuation, and this increased valuation is entered on a subsidiary roll which is used lor land tax and death duties as well as in case of compulsory acquisition. The subsidiary rolls will continue in force lor the purpose of land tax both ordinary and graduated, for the current year.

Under Clause 3.'J of the Act of I'JOS the Government is bound to take the' land after the Court, at it's instance, has lixed the compensation. It is now proposed in the Bill that, not later than one month after the Court has made t'ho order, "tho Gusernut nm v v, if in his absolute discretion he thinks fit so to do, declare by Proclamation published in the Gazette that the said land is compuisorily taken under this Act."

If' no such Proclamation is gazetted within the month, tho proceedings will be deemed to be discontinued, and the person to whom the Court awarded compensation may recover costs up to J.'2">o. lie will not be entitled, as ar present to-a refund of any loss catifcd in connection with the working of the- land by reason of tho proceedings for compulsory purchase.

Tho board is to have right of entry upon and inspection of land proposed to be acquired.

No land may be taken compulsnrily unless the area is not less than 2000 acres of first-class land or its equivalent, and of an unimproved value of not less than .£20,090. (The present limitation in the ease of first-class land is 1000 acres.) The ■right of an owner to retain a portion of the estate may not be exerci.'ed 50 as to rtduce the unimproved value nf the urea proposed to bo taken below .£20,000. CO-OPERATIVE BANKS. FINANCIAL AID FOR FARMERS. The Fanners Co-opeTativc Banks Bill, introduced by Sir Joseph Ward early yesterday morning, provides that any ten or more, farmers, on making application to the Registrar of Incorporated Societies, may become incorporated as a "Farmers' Co-operative Bank." Provision is made for an appeal from the Registrar to the Governor-in-Council should tho . former refuse to register, a bank, and the decision of the Governor-in-Council 011 such an appeal is to bo final. A bant is not to be required to have a registered or any other office. Every bank is to have a board of management of no fewer than five members, and the chairman of tho beard is to bi tho manager of the bank. The State Ixiaii Department may, with the consent of the Minister for Finance, advance to any member of. the. bank such sum, not exceeding .£SOO, as the board approves. These moneys are to bo deemed an advance to the bank, and are to bo a first charge on the lands and interests of all the members of the bank, who aTO to be jointly and severally liable for the repayment of the principal and interest not exceeding five per cent", per annum. No advance is to be made which wo.uld make the total indebtedness of a bank exceed the'value of the lands and interests of all its members. Tho board is empowered to determino the instalments by which each member shall repay a loan, and tho rato of interest which ho is to pay thereon.

Any person or company, other than a State Loan Department, may advance such sum not Exceeding XSOO, to any member of a bank, as tho board approves. All such advances are to bo guaranteed by the Government. The conditions as to security, etc., which apply to Government advances are to apply also to private advances.

, No advanco is to be made to a member for any purpose not directly connected with the improvement or carrying 011 of his • farm unless the borrower gives security for tho loan to the satisfaction of the board, and no advanco is to be made to any member of the board of any bank save with the consent of two-thirds of the whole of the members of tho bank.

A bank may be wound up voluntarily, by resolution of its members. If it suspends operations for a year, if its members are reduced to less than ten, if it is unable to pay its debts, or if any Judge of tho Supreme Court thinks it just and equitable that it. should be wound up. it may be wound up by the Supreme Court. A bank is authorised to make rules not inconsistent with the -Act, and the Governor-in-Council to make regulations not inconsistent with the Act. Farmer, under the Bill, means a person of or over the ago of twenty-one years, who, being himself in the occupation of land, uses tho same, either enfirely or principally for the production of grain, stock, fruit, or dairy or poultry produce.