INVESTMENT CONTROL

Wairarapa Times-Age, 6 March 1942, Page 4

INVESTMENT CONTROL

COMMONWEALTH PLAN MODIFIED SOME LAND & SHARE SALES TO BE PERMITTED. UNDER DEFINED RESTRICTIONS. (By Telegraph—Press Association—Copyright) (Received This Day, 12.10 p.m.) CANBERRA, This Day. Important modifications in the Federal Government’s national economic mobilisation plan are to be made to permit the resumption of some dealing in shares and stocks and land. The Government has accepted the recommendations of the Joint Committee of both Houses appointed to report on the plan. Regulations embodying the modifications will be gazetted in a few days. The Government is to amend the regulation limiting profits to four per cent, exclusive of tax, so that it will lake effect from a date to be fixed by Parliament but no earlier than July 1 next. The sale of shares which have been registered in the seller's name for not less than five months is to be permitted and Stock Exchanges have undertaken to fix maximum and minimum prices within which the sale shall be effected. The transfer of shares and land by gift is permitted. Sales of country lands are to be permitted where the selling price is not more than ten per cent above a fair and reasonable price as on February 10 last, and of all other lands where the vendor has been the owner for not less than twelve months before the date of the sale, and the selling price is not more than ten per cent above a fair and reasonable price on February 10.