PARLIAMENT

Hokitika Guardian, 7 August 1924, Page 1

PARLIAMENT

[BY TELKGItAI'H —rER PRESS ASSOCIATION WKLUXGTOX, A up. 7. LEGISLATIVE COUNCIL. The Lepislative Council met at 2./10 ao-da y. ’I lie leader of the Council, Sir Francis licll, in movinp the second rcadinp of the Trustee Amendment Hill explained that it hrinps into conformity with the law of Knplnnd tin- law of New Zealand relatinp to the powers of composition possessed hy trustees. Jl i mpowers the executor or administrator to pay or allow any debt, or claim on any evidence that he thinks sufficient. It permits tin- executors and trustees to accept any composition or

security for a.-iv debt or property claimed wit limit responsibility for any loss occasioned hy any act done ill pom) faith. Tin- Hill icpeals section 17 of the Administration Act, 1 f>!IS, which delin.-s the exist inp limited powers of composition possessed hy the administrators. The Hill also repeals section •12 of the Finance Act, I!I22, which was a temporary provision cllahliup trustees to prant a limited measure of relief to purchasers of trust property. This provision expired on the Hist l)r----rcmhi.-i' last and Clause •'! of the Mill enables trustees to invest trust liioiiev in any savinps haul; established under tli- If'itS Act and repeals the portion of the Finance Act, !K2h which authorised tie- investment of trust funds with an approved institution.” The Hill was read a second aime and referred to the Still tiles Revision Com-

mittee. Tlie Council adjourned at ■’? p.m. until ) on Wednesday next.

HOUSE OF lIKHIKSEXTATIYES WELLINGTON. A up. 0. The House met at 2.’!th 'I In- debate 1,11 tin* limlpet "a- coitlinttcd hv .Messrs A otitip, tedie. Dickson Chalmers), llelland. the lion Anderson and the lion Ituddo. I lie adiotirnmeiit was moved hy Ml 1 Hotter and the House rose at 10..i0