N.S.W. MORATORIUM.
Effort to Remove Hampering Restrictions. PROVISIONS OUTLINED. (United P.A.—Electric Telegraph—Copyright) (Received 12 noon.) SYDNEY, this day. The Moratorium Extension Act* Amendment Bill was read a first time in the Assembly. The Minister of Justice, Mr. L. O. Martin, said that the objects of the measure were to protect mortgagors who were temporarily unable, through economic circumstances, to discharge their liabilities.
It was also intended to protect lenders who relied on the good faith of those with whom they were dealing, and to free financial transactions as far as possible from hampering restrictions so as to create an atmosphere of confidence and stability.
The trading banks had stated that if such a measure were passed many millions would be available to the producers and the trading community.
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Auckland Star, Volume LXIII, Issue 260, 2 November 1932, Page 7
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128N.S.W. MORATORIUM. Auckland Star, Volume LXIII, Issue 260, 2 November 1932, Page 7
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