STATE ADVANCES
TRANSFER OF ASSETS
■ The Acting Minister of Finance (tho Hon. A. Hamilton) states that steps have already been initiated by. the Government for the transfer of the mortgage'assets of the State Advances Office to the Mortgage Corporation of New Zealand. "As will be readily appreciated," he states, "a transfer of such magnitude requires some measure of preparation. The State Advances Office has already proceeded to some extent on this preparatory work.
"As the final adjustments and arrangements with Ihe Corporation" are now in sight, it is desirable to narrow down the new loan transactions of the Advances Office in order to minimise the difficulties necessarily attendant oh the change-over from that office."
The Minister, on the recommendation of the State Advances Board, has accordingly ' agreed to the State Advances Office not accepting any new applications for loans after June 30. Applications made, however, and entertained by the office board prior to June 30, will be proceeded with as early as possible. Any new applications received by the State Advances Office after that date'will be recorded by the office and handed over to the Mortgage Corporation as soon as the 'latter is in a position to commence business.
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https://paperspast.natlib.govt.nz/newspapers/EP19350706.2.122
Bibliographic details
Evening Post, Volume CXX, Issue 6, 6 July 1935, Page 11
Word Count
199STATE ADVANCES Evening Post, Volume CXX, Issue 6, 6 July 1935, Page 11
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