LAND FOR SOLDIERS.

Ashburton Guardian, Volume XXXVI, Issue 8406, 23 March 1916, Page 7

LAND FOR SOLDIERS.

SCHEME FOR LOANS OUTLINED

Tho. following regulations regarding advances under the Discharged Soldiers Settlement Act have been gazetted: —

1. Advances for any of the purposes named in Section 6,0f the Army Act may, on tho recommendation of the Land Board/be made to the Minister or Lands; and any such advance or advances may, on the recommendation of the Land Board, be increased from time to time at the discretion of the said Minister. 2. The amount of any loan made for any of the purposes mentioned in subclauses (a) and (b) of Section 6 (1) of the said Act may, in tho discretion of the Minister, bo advanced by progress payments corresponding to 75 per cent, of the value of tho improvements from time to time effected by the mort-

gagor. 3. In such case tho value of the improvements so effected shall from time, to time ho ascertained _ and certified to by some person authorised by the Minister in that behalf,,and any certificate given by such person shall bo final; the balance of the advance to be paid j on receipt of final certificate that,the" improvements in respect of which the advance was made are satisfactorily completed. 4. In no case shall the amount advanced for the purpose of building a dwelling-house exceed £150. ; 5. In no case should any advance be made to any one person exceeding £500, nor any advance which, together with other advances made to the same person and still remaining unpaid, exceed the sum of £500. G. All moneys advanced shall bo secured by way of first mortgage over the land or the settler's interest therein, 7. Whore monoy is advanced for tho purpose of purchasing stock and improvements, such money shall be further secured by a collateral bill of sale. 8. In cases "where further advances are'made for purposes other than the purchase of stock or implements and the applicant has on the land stock or implements not already secured by bill of valo the Minister may require- before "ranting such furthe radvance, collateral security by. way of bill of sale over such stock'or implements.