MORTGAGORS RELIEF
("Post" S/pecial Commissioner)
DRASTIC PROVISIONS OF AMENDING BILL ASSISTANCE FOR FARMERS
WELLINGTON^ Wed. Drastic powers are conferred in the Mortgagors' Relief Amendment Bill, which came under debate in the House of" Representatives yesterday. The Bill was finally passed in the early hours of this morning. The Bill enables mortgages and fixed interest charges to he reviewed by the Court. Crown mortgagors are entitled to relief as well as others and the Iegislation is to operate until Decemher 31, 1933. Any land nsed for farming purposes comes under the Act. , The main burden of criticism was that the scope of the Bill should he widened. Several city members urged that urban properties should be included in its provisions and the Labour Party urged the reduction of interest rates with provision that they should he increased again should prices rise. The Prime Minister, the Rt. Hon. G. W. Forbes, declined to e'xtend the powers under the Bill which, he said, were already m,ore drastic than had ever been given previously. . The House also passed the Insipection of Machinery Bill which frees farmers from the onus of having an annual inspection " made of machinery under six horsepower.
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Bibliographic details
Rotorua Morning Post, Volume 1, Issue 69, 12 November 1931, Page 5
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196MORTGAGORS RELIEF Rotorua Morning Post, Volume 1, Issue 69, 12 November 1931, Page 5
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