PARLIAMENT

Taranaki Daily News, Volume XXIII, Issue 217, 23 September 1901, Page 2

PARLIAMENT

.. «- HOUSE OF REPRESENTATIYBS. Fbiday, 19th September, EVENINC SiTTruG. [The following was crowded out of our Stturday's issue.] On the House n turning at 7.30 ameodmeots mido in committee in the Charitable Gifts Bill were agreed to, : and the Bill was put through its final I stages. The Premier gave notice to move that for the remainder of "the session Government business te taken on Wednesdays. The Premier gave notice to move that the Public Accounts Committee be asked to repot t on the patit'on of the Midland Bail way debenture holders and shareholders, and that the report of the Royal Commission on the Midland Railway be referred to that committee. The Money Lenders Bill was consired in commit'ee. At clause 2, which defines the term " money lender " Mr Massey urged that the Bill did not »pply to lawyers, who lent a great deal ot money. Hon. W. Hall-Jonrs said he pro- ' posed to amend the clause to provide that the Act should not apply to any person bona fide carrying on bonking or insurance business, and lending i money at a rate of interest not exL ceeding ten p«,r cent. The Aot was in- j tended to apply to leaders ptire j and simple. | Mr M : Ht>r moved to strike out subclause 4, which proposed to exempt' any body corporate, or incorporated,: or empowered before the parsing of this ' Act by special Act of Parliament to , lend money in accordance with such special Act. Hon. W. Hill-Jones agreed with this motion. In regard to the amendment to sub- > clause 5 of clausi 2, proposed by the > Minister, Mr Atkinson pointed out ' that a person who did not make a 1 business of money lending could ocI casiona ly lend money at an exorbitant : rate of interest, and the Court Kad fao ' power to review such a transaction on | its meritß. Mr Napier urged that the definition of money lender should be " every person who lends money for interest," as the clause a* draftei would not! reioh many people who lent money at exorbant rates of interest. Hon. W. Hall Jones said tV.e Bill 1 would hav < to be made clew to ' theso objections, and if necessary, he would Agree to its recommittal. I Mr O. W. Russell said that although ' it did not at p-esent include every I person who lent money, the Bill would give a large measure of relief to many 1 persons. He suggested that the defii nition clause should ba allowed to stand, and pointed out that the Bill could not be imp oved by an alteration ' in Cause 3. To make the d< fiaition 1 of a money lender too wide would tend to kill the Bill. 1 After further discussion the pro- ' posed amendment foreshadowed by Mr ■ Hall-Jones was h greed to on the voices, and Clause 2, as amended, was pissed : by 44 votes to 9. In Clause 3, dealing with fe-open-l ing of transactions of moneylenders, Mr. G. J. Smith raised a point in re- ' gard to what had .been desoribed to 1 him as one ot the worst evils of the I moneylending business. He referred j to the practice of endorsing bills for commission, and asked whether the Minister did not think some provision should be inserted in this Bill to restrict the charges in cas s like this. Hon. W. Hall-Jones said he wag , doubtful of the advis ability of making' provision in the present Bill for the case* mentioned by Mr. Smith. He 1 admitted it was an importm? point, j ' and he would make inquiries and sea whut could be done.

On the motion of Mr. Atkinson, an amendment was made to the clause providing that the Court shall have power to review a transaction before the time for re-payment of the loan has arrived, and that the section shall apply to any transaction which, whatever its form, is substantially one of moneylending by a moneylender. Son. W. Hall-Jones then moved a new sub-olause to provide that moneylender s' all include any person who lands money for interest. j The Bill was reported as amended.

The Trustee Amendment Bill passed through committee with amendments mide liy the Statutes Revision Oommittej, and was read a third time and passed. The H"use Rose at 1.10 a.m.