N.Z. PARLIAMENT

Hokitika Guardian, 23 November 1933, Page 5

N.Z. PARLIAMENT

BILLS IN HOUSE

LONG DISCUSSION YESTERDAY. (Per Press Association Copyright.) ' WELLINGTON, Nov. 23.- > In the Legislative- Council ‘ yesterday the Commercial Trusts Amendment Bill, and Licensing, Amendment Bill were read a second time. The Council rose until Wednesday next; In the House of Representatives, five Government Bills, the Local Authorities Interest Reduction and Loan .conversion Amendment. Bill, Post and ' Telegrapn Amendment; Bill, Royal Society of New Zealand Bill,. Co-operative Pig /Marketing Companies Bill, and Money-Lenders Amendment Bill were introduced by, Governor-General’s message, and ..were read a first time. Explaining the Local Authorities Interest Reduction and Loans Conversion Amendment Billy;the Minister of Fin-' anco .(the Hon. *J. ,G. Coates), said it was primarily for the purpose of giving effect to promises made to the London authorities that the principal Act, , passed last session,' would be amended in' the direction 6f exempting them from the. reduction of twenty per cent, in .'interest thereby - imposed, ana rrom conversion of .any securities of local authorities, whioh had-' been sold in

London prior to duly .1, 1933. The Bill in effect provided that th 9 reduction of . twenty per ■ cent, should not apply in respect of any securities disposed of in London prior to July j,

nor should those securities he liable to conversion under, the principal;’act. “Perhaps I should make it dear,” said the Minister,” that the bill hss no reference whatever to the question of .the payment of London loans in New Zealand, currency, or'in sterling.”Explaining the Royal Society of New .Zealand Bill, the Premier (the Hon. GW.' Forbes),' said, its object was to change the, name of the New Zealand Institute to the “Royal Society of New Zealand.” . ' . . . •

Outlining the main features of tho ■Post and Telegraph Amendment Bill.. • the Postmaster-General (the; Hon. Ada in Hamilton), said; - it removed the. , re-1 striction that .prevented the exchange of officers of' the Post and Telegraph Department with other-branches of the’ Public Service. It abo changed the title of the permanent head of the Do-, partment from “Secretary” .to “Director-, . General,” bringing the. Dominion sa*p ",

all other parts of the -world. The Minister s aid there was also & clause dealing with radio interference by what i« known as “howlers,” or power apparatus that interfered with radio reception.

j The Hon. iT. G. 0»bbo, outlining tho main features of the Money-Lenders .Amendment Bill, said it provided that all‘■moneylenders must be licensed By. a’Magistrate, who would have to satisfy himself that the applicant -was a reputable penson. It also provided that money-lenders would have to supply .a form staling the amount of the lev n, the of interest, and other particu-. lftrs. A person" borrowing money would be entitled, on the payment of a fee of one shilling)' to demand a statement of his account—how mu ’h had been paid,’ and how much was owing'. The bill also fixed a. maximum rate of interest that might be chary .-d' on loans. - : : The Minister of Agriculture (the Hm. tC. E. Macmillan)/ said that the Cooperative Pig Marketing Bill was designed to give ■co-operative pig marketing companies the- same rights ia s to the surrender and re-issue of sh ar eis as w ro now enjoyed by dairy companies. He explained if' vvas important that the control should be in the hand s of actual . producers.'The House went into committee ~n the Companies .Bill, and amendments piopoged by the Minister of Fauan't-® were circulated. The first deals with the recognition of accountant societies. It set ' out that no person, shall be qualified to act as an auditor unless he i s *a member of the New Zealand Society of Accountants, but a,, further qualifying gub-claus e has been adaed, that, for.the purpose .of avoiding undue hardships, the council of . the L'cw Zealand Society of Accountants shall admit to membership without fee every member of the Incorporated. Institute . o f; r Accountants of New Zealand, or of the New Zealand Accountants and Auditors Association, or of the .Certified iAfxountantv® Association, of N,ew Zealand, who applies for admission before March 31 next. ,

Tho Minister’s .second amendment deals with the question of share-hawk-ing Where the original clause forbade

house-to-house offering of shares, two exception® are now provided for. a man may offer shares from house to hou-e where he is acting as an agent of any company, firm, or person, ard pro die-s written authority to offer shares: a ‘d,

secondly, in the case of shares offc" id

for subscription, if ho delivers a pros-

pectus complying with tbe requirements

of the Act. ■ - ‘ The Bdl was fit-ill under discussion

when the House rose at mich'ight