PURCHASE OF FIRM
Our Own Correspondent.)
Yalidating Legislation to Come
(From
WELLINGTON, This Day. An indication that legislation is to be ihtrodueed validating linancial transactions involved in the purchase of the ffrm of Picot Bros. Ltd. by tho Government, iB given in the rOport of the Controller and Auditor-General, Mr J. H. Fowler, which was preseuted to Parliament yestetday "In December of last year," states Mr Fowler, "the Government decided to undertake the internal marketing of butter, cheese, bacon and other foodstuffs, so that fluctuations in price to consumers caused by speculation. would be minimised, and purchased the business of Picot Bros. Ltd., Wellington. "The legal and financial advisers of the Government expressed some doubt on the question of whother this undertaking was authnrised by the Primarv Products Marketing Act, 1936, and It was decided to charge the capital expenditure and workjng expenses of the purchased business to TTnauthorised Expenditure Account. This.course was agreed to by the Audit Office on the undertaking by the Prime Minister that the Government would proihote any validating legislation. whidh might be at C6UMTZ*'* ' j
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https://paperspast.natlib.govt.nz/newspapers/HBHETR19371015.2.30
Bibliographic details
Hawke's Bay Herald-Tribune, Volume 81, Issue 19, 15 October 1937, Page 5
Word Count
180PURCHASE OF FIRM Hawke's Bay Herald-Tribune, Volume 81, Issue 19, 15 October 1937, Page 5
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