GAOL FOR LIFE

Waikato Times, Volume 125, Issue 20922, 29 September 1939, Page 7

GAOL FOR LIFE

' PREVENTING PROFITEERING REGULATIONS IN AUSTRALIA PURCHASE OF WOOL CLIP (United Press Assn.—Elec. Tel. Copyright) (Receiv'ed Sept. 29, 3.15 p.m.) CANBERRA, Sept. 29 Under the provisions of the national security regulations wartime profiteers may be imprisoned for life. Other penalties range from a fine up to £IOO or imprisonment up to six months. The imprisonment for life penalty applies to indictable offences. The alternative is a fine of any amount or imprisonment plus a fine. The regulations are designed to prevent the sale of declared goods at excessive prices, to eliminate speculative dealings in commodities generally, to prevent cornering and inter-merchant selling, and to break combines. Control of Wool Comprehensive regulations defining the powers of the Central Wool Committee and the State committees have been gazetted to give effect to the agreement between the Commonwealth and British Governments for the purchase of the Australian wool clip for the duration of the war. The regulations forbid the purchase or sale of any wool or tops except upon terms set out in the regulations. They provide that the sale of wool shall be made upon appraisement and every parcel of wool must pass to the Commonwealth when the appraisement is made. Wool not submitted for appraisement may be seized. The decisions of the appraisers will be final and without appeal.