ADJUSTMENT ACT
FAR-REACHING EFFECT
(Special to the "Evening Post") Th Pf^RSTON N., This Day; That the provisions of the Mortgagors Final Adjustment Act had a far-reaching effect on local bodies was reported to the Manawatu County Council yesterday by the clerk, Mr A. K. Drew. He pointed out that- in cases where stay order was issued the local body became an unsecured creditor m respect of unpaid rates owing by a mortgagor and was precluded from taking any further action under the Rating Act. Moreover, any other person from whom rates could nn/ e eCT red was similarly protected under this recent legislation to the same extent as the mortgagor. The local body would be required to accept payment-of rates only from the time when the budgetary period came into operation and after certain other charges had taken precedence. Arrears of rates or rates levied for the current year and due at a date prior to the stay order, being granted would not be recognised., in the current years charge against revenue derived from the farm.
Mr. Drew said he thought the matter shoulti be referred to the Counties' Association for urgent consideration and the council decided to write to the new Minister of Finance and point out the injustice of the position
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https://paperspast.natlib.govt.nz/newspapers/EP19351211.2.18
Bibliographic details
Evening Post, Volume CXX, Issue 141, 11 December 1935, Page 4
Word Count
213ADJUSTMENT ACT Evening Post, Volume CXX, Issue 141, 11 December 1935, Page 4
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