IMPORTERS WARNED

Taranaki Daily News, 25 September 1940, Page 3

IMPORTERS WARNED

GOODS FOR FULL YEAR NO ADDITION POSSIBLE "It is necessary to warn irnporters that the allocations granted to them are intended to provide for requirements for the full year," commented the Hon. W. Nash, Minister of Customs, in announcing the import licensing basis for 1941. "They are de'termined within the limits of the funds available and cannot be increased. Irnporters would be well advised, therefore, to arrange their imports or the distribution thereof so that they will cover the full period; otherwise they may find thernselves during the latter part of the yeaP without any goods to trade with. "A further important aspect of the procedure and one which is doubtless generally understood is the policy being adopted regarding the expiry of third j and fourth period licenses. When releas- i ing the fourth period schedule in April last, it was made. clear that licenses for the third and fourth periods would be valid until December 31 next only and irnporters were advised to arrange for importation by that date. "It is recognised that there may be ] difficulty in bringing the goods in within I that period but it is very important that there should be no carry-oyer from one period into another. If this procedure ] were not followed it would be difficult j to determine the amount which could be ] allocated for licenses in the subsequent period and would probably result in that amount being reduced to a lower level than ultimately found necessary. "It has therefore been decided not to extend third and fourth period licenses beyond December 31. Any goods ordered | under such licenses which arrive after that date will be admitted only as a charge against the importer's allocation for the fifth period. Irnporters are accordingly warned that in placing orders against fifth period allocations they should make allowance for any goods ordered under third and fourth period licenses which may arrive after December 31. "As a means of exercising control and avoiding any difficulties arising on the part of irnporters from a misunderstanding of the position the following procedure will be followed in issuing fifth period licenses: Where, at the time of issue of fifth period licenses, an importer has balances outstanding on third or fourth period licenses, his allocation for the fifth period will be reduced by the extent of such balances until such time as the licenses for the . previous periods have been surrendered. This means that immediately the licenses for the previous periods are surrendered either before December 31 should the licenses have then been exhausted, or after December 31 licenses for the full allocation for the fifth period will be available."