COUNTY COUNCIL FINANCE.
A LEGAL DECISION. B}’ Telegraph.—Press Association. Wellington. March 30. The Chief Justice had before him the question of a declaratory order interpreting section 45 of the Finance Act, 1920. The point was whether a local body could call on the bank to honor the Kiwitea County Council’s cheque drawn to replace moneys in the loan account, notwithstanding the fact that the overdraft in the ordinary account will thereby be in excess of the legal limit. Sir Robert Stout said there was nothing in the Statute "forcing the bank to give credit to a local authority. The latter could not compel the bank to find them the money. The era of forcing ; loans expired with the Stuarts. ilia judgment was that the bank waa not bound to make the advances.
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Taranaki Daily News, 31 March 1922, Page 4
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132COUNTY COUNCIL FINANCE. Taranaki Daily News, 31 March 1922, Page 4
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