LAND LAWS

Hawera Star, Volume XLVI, 19 August 1926, Page 5

LAND LAWS

LIMITATION BV VALUE.

NEW POLICY PROPOSED

FEATURES EXPLAINED.

(By Telegraph.—Special to The Star.) WELLINGTON, Aug. 19. A Land Amendment Bill was’introduced by Governor-General’s message, m the House ol Representatives last night and read a first time. ' - - y -' 7it was explained by, tlie Hon. A. D. McLeod, Minister of Lands, that there were many amendments, of the law which were not material, but. there were three features of importance. One dealt with the amortization principle applied to the freeholding of land. It extended the term of purchase to 34y years on the table mortgage system. Part 2 of the measure dealt with the granting of the freehold of National Endowment Lands. It applied only to an area of about nine million acres, and did not deal with special endowments such as Westport Harbour or other educational endowments. Theoriginal National Endowment Act- provided for the investment of capital from sales of endowment land, and itwas not proposed to interfere with that provision, while the revenue would continue to be applied, as hitherto, towards the cost of education and old age pensions. LIMITATION OF HOLDINGS..

The Minister went on to explain that the Bill proposed additions to the land laws which provided for the limitation of area. It was proposed to add a ’limitation based on value, a limitation which could only be exceeded with tli« consent of the Minister of Lands, on the recommendation of a land board. It would apply in isucll cases wliere the limit fixed by the amendment might only be exceeded by a. few hundreds and which would otherwise leave- a small area which, would be useless as a separate farm. Roughly, said the Minister, the limitation in value was £7500. „ Sir John Liike (Wellington North): “Is there any demand for an altered policy?” The Hon. A. D. McLeod: “Yes, and the Government is a freehold Government.” Mr. J. Horn (Wakatipu) asked if the pastoral runs in Otago were in cluck ed These were held irrespective of size. » Mr. (McLeod replied that pastoral runs in Otago were not included, but only those having- the right to conversion to the freehold. In further explanation of the limitation principle, he remarked that as the law now stood it provided for a limit of 5000 acres of third-class land, 3000 acres of sec-ond-class, and 660 acres of first-class, - but under such conditions it- might be possible to hold un to £20,000 worth of third-class land.' The Bill provided that in addition to area, limitation there would -he a. value limit of £7500.