TO-DAY’S BUSINESS

Hokitika Guardian, 20 December 1933, Page 6

TO-DAY’S BUSINESS

IN HOUSE OF REPRESENTATIVES

BILLS TAKEN IN COMMITTEE,

(Per Pi ess Association — Copyright.)

WELLINGON, December 20

In the House of Representatives this morning, final reports were presented oy the various select committees. Amendments to - the Finance Bill (Number Two) were introduced by the" Governor-General’s message, and referred to the committee on the hill.

The Land and Income Tax Amendment Bill was introduced by the Gov-ernor-GendraPs message, and read a first time.-

Urgency was obtained for the passage of the following bills, on which the House went into committee: Finance Bill (No 2), Motor Spirits (Regulation of Prices) Bill, Education Law Amendment Bill, Poor Prisoners Defence Bill, Laud Transfer ’(Hawke’s Bay) Amendment Bill, Card Tournament 'Regulation Bill, Valuation of Land Amendment Bill, and Auckland Metropolitan Milk Bill. Discussion on the first named bill is proceeding. A clause validating pension reductions as from April 1, 1932, was retained by 34 votes to 27.

INSURANCE AGAINST QUAKES

TOBACCO; LONDON INTEREST

•WELLINGTON, December 20. In the debate on the Finance Bill (No. 2), Mr M. J. Savage asked regarding the new clause removing tobacco from the schedule of th e Commercial Trusts Act, whether the Minister would give an assurance that the public would (be protected atom exploitation, in the direction , 0 f price fixation at too high a level.

Mr Coates said that if the prices rose to an unreasonable level, the Government would not hesitate to invoke the Board of Trade Act with a view to protecting the public. The bill was put through the committee with the amendments introduced by Governor-General’s message. Another important amendment Is tii the terms o.f the announcement by Hon. J. G. Coatts last night on the subject of earthquake- risk s in connection with' workers’ compensation. It ?s sec out that the maximum liability of all insurance companies, shall not exceed £50,000 in respect, of, personal. injuries to workers, resulting; • from a single earthquake or a series of .. earthquakes occurring within a period of seven days. Where the total liability exceeds £50.000 each company’s share of the liability is to be apportioned by the GqvernorGeneralrtnUouncil -a-jih -1° their premium incomes for the preceding calendar year in respect of their employers’ liability insurance business.

If any company was not carrying on such business in the preceding year its proportion of liability is to be determined 'bv the ' Governor-General-in-:Council in. such a manlier as he thinks, proper. The amounts to be paid ‘to these entitled to compensation are to bear the same .proportion to the full amount of their claim, as the sum of .£50,000 bears to'the aggregate, amount of all valid claims. A new clause lias been added to facilitate a settlement between theGovernment and the Southland Power Board regarding interest payment in 'London. This clause will empower the Board to borrow money in London to mieet the difference between tibia amounts payable in sterling and in New Zealand currency on its overseas loans, and to repay that sum out of sinking fund. The clause in the Finance Act, 192 6, empowered the Governor-Gener-al by Grder-in-Council to authorise a power- board to borrow money to meet charges on land that was guaranteed by the: Government. The clause introduced do-day .prohibits that money, so borrowed; may .be repaid out of the sum standing. at the credit on the sinking fund of the loan on which the money was borrowed.