The Manawatu Herald. TUESDAY, NOVEMBER 7, 1916. COMMONWEALTH MORATORIUM.

Manawatu Herald, Volume XXXVIII, Issue 1634, 7 November 1916, Page 2

The Manawatu Herald. TUESDAY, NOVEMBER 7, 1916. COMMONWEALTH MORATORIUM.

REGFLATIONS will shortly be issued by the Commonwealth Government establishing a general moratorium. In the meantime the existing temporary moratorium will he. continued. The moratorium will apply to mortgages as defined in the existing regulations, and will include also docmnenls extending mortgages, and agreements for sale and purchases of laud, and to leases of land will) right of purchase. It will, however, not apply to mortgages, agreements, or leases executed after September 20th, 1.910, if it were expressly stipulated in (ho mortgage that it should not apply, nor will it apply to agreements for the sale and purchase of leasehold interests in land only. As a general rule the leave of a Court will ho required before a mortgagee exercises any powers regarding the mortgaged property. The regulations will also provide Hint before a, writ or other legal process may he issued against a member of the forces, or his female dependent under contracts and agreements made before September 201 It, 19Hi, and not covered by the existing regulations, the leave of a Court will he required.