The Advances to Settlers Act.

Feilding Star, Volume XVII, Issue 82, 3 October 1895, Page 2

The Advances to Settlers Act.

IMPORTANT AMENDMENTS. The Bill to amend the Advances to Settlers Act of last session reduces the members of the General Board from six to four in number, viz., the Colonial Treasurer, the Superintendent appointed under the Act, the Public Trustee, and the Commissioner of Taxes. The Government Insurance Commissioner and Solicitor-General, who were members of the old Board, are omitted from the new. Three members are to form a quorum, and in the absence of either the Colonial Treasurer, Public Trustee, or Commissioner of Taxes, deputies may take their place on the Board. Power is given to temporarily invest money awaiting investment under the Act, in such securities as the Governor-in-Council may approve. Suburban land is defined as meaning land situate in the vicinity of a town or borough, and held or occupied for residential or manufacturing purposes ; but does not include land which, although situate in the vicinity of a town or borough, is held or occupied for farming, dairying, or market-gardening purposes. The" General Board is given full power to decide whether the land offered as security for an advance is, or is not, suburban land. In addition to the nine classes of land specified in the original Act as land upon which advances may be made, it adds educational and other reserves which' are subject to the provisions of the Land Act, 1892, and are held on perpetual lease or lease in perpetuity. Clause 28 of the original Act, providing that a further sum of £1,500,000 for advances to settlers may be raised within two years of the passing of the Act of 1894, is amended to extend the period within which the money may be raised to three years from the passing of the present Bill, or, in other words, four years from the passing of the Act of last year. _ ____^___