RURAL CREDITS

Sun (Auckland), Volume I, Issue 200, 12 November 1927, Page 12

RURAL CREDITS

INVESTMENT OF FUNDS AMENDMENTS TO BILL (THE SUN'S Parliamentary Reporter.) WELLINGTON, Friday. Members of the House of Representatives received something of a surprise late this evening when the Rural Intermediate Credits Bill, which they thought had finally been disposed of, was returned from the Governor-Gen-eral with some further amendments which the House will consider in due course. The Prime Minister, the Rt. Hon. J. G. Coates, explained that, as a result of investigations, the Crown Law Office had been asked to draft certain amendments, mostly of a machinery nature, which it was felt were necessary. Air. T. AI. Wilford, Hutt: How was it we missed them all here? Air. Coates: I don’t know. We thought we had taken every care here, but these little difficulties cropped up. A provision enabling the depositing of the Rural Credits Board’s funds for investment in the common fund of the Public Trust Office is proposed to be dropped, as it was felt that this was hardly the proper source from which to take money for investment in the common fund. It is proposed to keep the funds entirely separate. The Public Trustee does not see eye to eye altogether on this point, but the weight of opinion of Treasury officers is that this should be done. Other amendments are largely machinery provisions.