EXPIRING LAWS.

Auckland Star, Volume LII, Issue 304, 22 December 1921, Page 9

EXPIRING LAWS.

TEMPORARY CONTINUANCE. RENT RESTRICTIONS AND BONUSES*, INTEREST UNDER MORATORIUM. (By Telegraph.—Parllamentarv Reporter.) WELLINGTON, Wednesday. Five minutes sufficed to pass the Expiring Laws Continuance Bill in the House of Representatives to-night, nichv bers being content with the Premier's explanation. The chief feature of the bill is that rent restriction legislation is kept alive until February 2S next, when the position can be reviewed at ieisure. Similar provision is made in respect 16 amendment of the Arbitration Act empowering the Court to review awards having regard to fluctuations in the cost of living. The Premier explained that unless this ■bill was passed the whole system lapsed. Another amendment, he said, dealt with the rate of interest on trustee investments made before the passing of the Moratorium Act. Some of these investments were at a very low rate of interest, and injustice was being done, as investors could not secure the current rate. The bill provided that after 31st December the rate\ of interest on these investments would be 6 per cent per annum. Mr. Masßey explained that the measure merely extended the existing conditions until February 2S. It had been hoped to make certain alterations to become effective before the holidays, but there was certain information to be collected, and the law draftsmen had notified that it was impossible to get it completed in time. The present Act could operate until the House had an opportunity of considering it when it met again.