RURAL MORTGAGORS

Evening Post, Volume CXIX, Issue 73, 27 March 1935, Page 3

RURAL MORTGAGORS

Good Progress on Bill

Considerable progress was,made-in the House of ■ Representatives on the Rural Mortgagors Final Adjust- ■ nenf Bill, and whdn the adjournment was taken at 11. U.' p.m. thirty-four .clauses "/ere agreed to The House went into*Comraittee en the Bill on Friday afternoon, but the 'short title was not agreed to till shortly before 5-3.0 p.m. yesterday . From then on. proaresp was fairly rapid Although the vital amendments dealing withIthe equity of the mortgagor .were not introduced, the Minister of Finance (the Rt.Hon.J.G Coat,es) circulated a number of amendments in reference to other clauses in the measure ' ■ The Governor-General in Council may at any.time transfer to the. Court of Review the functions of the Supreme Court, or. of a Stipendiary Magistrate If a Judge of the Supreme Count is appointed Judge of .the Court of Review, he is to be deemed as being absent from the Supreme Court and another Judge may be appointed in his place, provided that nothing is to be done to deprive the Judge of the Court of Review of the ppwer to exercise his. .jurisdiction as a Judge of the Supreme uourt A change is made in the nature of the evidence to be given before the Court of Review. Previously it was provided that the Court might act on any testimony, sworr. or unsworn, but the words "sworn or unsworn" are now omitted 1 The procedure subsequent to the failure of negotiations for a voluntary adjustment are amended to provide that the. Adjustment Commission shall take into consideration whether the moFtgagor could not have continued to carry on his farming operations, even if the special economic conditions affecting the farming industry during recent years had not arisen. The Bill previously provided for the substitution of the words "since the passing of the principal Act" in place of "during recent years,". The death' of a mortgagor is not to prevent tftb discharge of a stay order. An order once made is to enure until an order of discharge is made by the Court The provisions regarding the appointment and powers of supervisors are omitted, in accordance with the undertaking given by the Minister of Finance. ' ' The mortgagor, in submitting a"budget of his estimated income and expenditure, is empowered to make . representations to the Adjustment Commission as to the amount proposed to be allowed to him in respect of his living and working expenses. Power is also given for disbursements to be made out of the income of the mortgagor of any indebtedness incurred by the mortgagor before the budgetary period.; The provision dealing with priority in the payment of rents on any land used by the mortgagor for agricultural purposes is omitted. In oases where land is held by the mortgagor under lease for agricultural purposes provision is to be made for the payment of rent at a rate to be fixed by the Adjustment Commission before any payment of interest 16 made to any mortgagee of the mortgagor s interest in the,leased lands. The amendments affecting the clauses dealt with were agreed to, and in addition the Minister made a concession, adopting an amendment moved by Mr. W. J ' Poison (Government, Stratford) to extend the time under which notice may be given.by mortgagors in taking steps to obtain an adjustment of liabilities. The Bill stipulated that notice had to be given within ' twelve months, but the effect of the amendment will be that the period, in special circumstances, maybe left to the "discretion of the Court of Review. . ' The clauses of the Bill agreed to dealt with the setting up of the Court of Review, the portion of the Bill dealing with voluntary adjustments, and the issue of stay orders.