NO SELLING OUT

Evening Post, Volume CXXII, Issue 68, 17 September 1936, Page 14

NO SELLING OUT

MORTGAGEE'S SAFEGUARD

When the Mortgagors and Lessees Rehabilitation Bill was being considered in Committee by. the House of Representatives yesterday, the Minister of Finance (the Hon. W. Nash) said that among the amendments that he proposed introducing would be one safeguarding a mortgagee in the event of a mortgagor who had been helped by the Court of Review selling out at a profit immediately afterwards. The idea behind this was that when an adjustment was made the farmer should remain on .the land and not sell. Other steps, .would be taken if , the property was sold within a certain time. He did not desire to see a mortgagor beat the mortgagee. If a mortgagor were given benefits, he wanted to see him produce from the land. Mr. C. A. Wilkinson (Independent, Egmoht) said the House should have the proposed amendments before it. The Minister: They are not quite finalised. Mr. Wilkinson said the House was wasting time. If the amendments were in the hands of members the discussion could proceed. He was strongly in favour of adjustments, but he did not want to see the mortgagor get away with the swag. The Minister had not said definitely that an amendment was coming down. The Minister: Yes, there is one. Mr. H. G. Dickie (National, Patea) said'the'Bill'should "state the rate of interest .to .be. paid