LEGISLATION PROMISED

Press, Volume CVI, Issue 31143, 20 August 1966, Page 1

LEGISLATION PROMISED

Hire-Purchase Control

(A’etr Zen land Press Association! WELLINGTON, August 19. Legislation on hire-purchase and credit trading would be introduced “shortly,” the LTnder-Secretary of Industries and Commerce (Mr AdamsSchneider) said in Parliament today.

Mr Adams-Schneider said he could not promise the legislation would be iniroduced this session. He was speaking in the debate on a private member’s bill introduced by Mr R. L. Bailey (Opp., Heretunga). LAWS “BACKWARD” New Zealand’s hire-pur-chase and credit trading laws were considered “backward” by some world standards and it was urgently necessary for the interests of purchasers to be protected, Mr Bailey said. Mr Bailey said more than 40 per cent of retail sales were now financed by consumer credit, but because purchase agreements were couched in language not easily understood by the buyer, the buyers were in a poor position. He said his bill would do away with “shady practices’’ and erase anomalies and injustices. “No reputable trader need fear any of the provisions of this bill and many will welcome the legislation,” Mr Bailey said. RESULTS OF SURVEY Mr Adams-Schneider said the final results of investigations by the Tariff and Development Board, undertaken in 1964, would be available soon. Legislation would be introduced after study of the board’s findings. Mr Adams-Schneider said the board had had to consider 1500 pages of reports and submissions.

Mr P. T. Watene (Opp., Eastern Maori) said the time credit position was so serious that legislation was required now—not later. MAORIS “FLEECED”

“It is common knowledge that in some areas the Maori people are being fleeced of large sums of money for articles which can be bought more cheaply elsewhere,” he said.

Much of the “fleecing" was done by high-pressure door-to-door salesmen. The Maori Welfare Office had been instructed to draw their activities to the notice of the Maori people. “They make quick sales at high prices without giving the people the opportunity to compare values or realise that they are being led into them,” he said. “They are being stampeded into signing agreements.” Mr D. J. Riddiford (Govt . Wellington Central) said the bill was a "waste of time" and added that he hoped the House would not have to spend its time discussing the “shoddy” flights of fancy of the Opposition. Mr N. V. Douglas (Opp., Auckland Central), said the private member’s bill was aimed at “taking down" unscrupulous people and stopping “evil practices.” Mr Riddiford said that for the most part the bill was no improvement on existing legislation.