THE FISHING INDUSTRY

Dominion, Volume 13, Issue 232, 25 June 1920, Page 7

THE FISHING INDUSTRY

REGULATIONS RELATING TO ADVANCES. / Regulations relating to a'tv.incpß under the Pishing Industry Promotion Act of last year are published in this week's Gazette. In respect-to advances for the purpose of erecting and equipping cool Btorage plants for flsh, or Ash-canning, or fishpreserving plants, the Minister may accept as security a first mortgage over plant and machlricry, or 'any other property of tho applicants; o Joint and several guarantee of the applicants, a bond with approved security, or a security over the uncalled capital of a company. No advance Is to oxceed an amount equal to two-thirds of tho value of the land, buildingß, and maohinory. In respect to applications for advances for the purpose of purchasing and equipping or altering or putting machinery In fishing boats, the Minister may accept In addition to security over the fishingboat and equipment, a bill of salo over other property, joint and sevoral guarantee, a. bond with approved security, or security over unoalled capital of a company. No advance is to exceed £1000 exoept in tho caso of the purchase and oqulpment of new boats, when tho limit Is 76 nor cent, of tho value of tho boat and equipment.