NEW BILLS.

Auckland Star, Volume XXXVI, Issue 201, 23 August 1905, Page 3

NEW BILLS.

LANDS FOR SETIT-EMENT. ! (By Telegraph.—Parliamentary Reporter.* WELLINGTON, Tuesday. A short bill amending the Land for I Settlement Act was introduced to-day. iThe bill merely extends the maximum ; amount which may be borrowed under I the principal Act from half to threequarters of a million. The Premier explained that the half-million which may jbe borrowed this year would not be suf ficient. several properties being under ! negotiations, and a larger sum t-an-va. [available was required. The Public Ac- | counts Committee report on Paper B 19. i relating to the payment of interest on debentures issued under the Aid to Public Works and Land Settlement Act, 1900. states that the debentures feil due on April 1. 1904. The banks being closed until April 5, debenture holders claimed interest for the five days, and the Treasurer paid tbe same. This was questioned by the Audit Department, and tbe Solicitor-General gave his opinion that the payment was a proper and legal charge, and the payment was detained by the Governor. Seeing that a similar Circumstance and position may again arise, \ r our Committee therefore recommend that an amendment of tbe law be made to the effect that when the day of payment is on a bank holiday, under the Bank and Bankers' Act, no payment of debenture may be made on the

succeeding business day. and interest to such day shall be deemed to be interest payable in respect to such debenture. The" Public Trust Office Amendment Act, circulated to-day, amends section 13 of the orgiual Act by allowing trustees, unless expressly prohibited, to transfer their trust to the Public Trustee without first seeking the consent of the Supreme Court. It also provide, that, where the sale of any property vested in the Trustee is held more than ten miles from the place of business of a Licensed auctioneer, tflie Trustee mayappoint some person to hold the sale without his holding an auctioneer's license.