MORTGAGORS' RELIEF BILL.

Auckland Star, Volume LXII, Issue 87, 14 April 1931, Page 8

MORTGAGORS' RELIEF BILL.

QUESTIONS DT COMMITTEE STAGE. MAGISTRATE'S JURISDICTION. (By Telegraph.—Press Association.) . WELLINGTON, Monday. * The Mortgagors' Relief Bill was further considered in committee by the Hbii&j of Representatives to-day. The Hon. W. Downie Stewart '{Refoim —Dunedin West) asked the Prime Muister' if he had received any represemation as to the powers of "trustees who were mortgagees. He understood tm-t some trustee-mortgagees were anxious to meet the difficulties, of their mortgagors and were being advised that"]" some respect their powers of compromise were limited under the Trustee Act. He asked whether provision would be made to meet those cases in the present bill. . Mr. Forbes replied that he had had representations on the question, and i clause was beinsr drafted for inclusion in the Finance Bill (No. 2). 'Mr. C. H. Clinkard (Government— Rotorua) moved to extend the jurisdiction of magistrates to. cases involvin? up to £1500. Mr. Forbes said, such an - amendment could only be introduced by GovernorGeneral's Message. There was, he addoi a "Governer-General's Message Hwaichia signature at present which would extern! the jurisdiction of magistrates. The amendment was later received -by Governor-General's Message. ' ; The bill was put through the Com mittee stages, the amendments mtvbduced by Governor-General's Message beinsr adopted. The Prime Minister, explaining these. stated the first met the objections raised in reference to the extent of the notice to be given prior to foreclosure; In ease of proceedings relating to land, one month's notice was required, while witl: respect of an action to realise on chattels only seven days' notice vras neeessary. - ' '.i* The other amendment dealt with the jurisdiction conferred on magistrates in respect of cases in which actions for closure' were under review. The b;H originally gave magistrates power. 10 deal with "cases where the principal moneys were under £500. The amendment* increased this amount to £2000. The bill was read a third time and passed.