PROPOSED AMENDMENTS

Hawera Star, Volume LIV, 27 March 1935, Page 9

PROPOSED AMENDMENTS

SUPERVISION ABOLISHED ADJUSTMENT OF LIABILITIES DISTRIBUTION OF INCOME (By Telegraph—Press Association.) WELLINGTON, March 26. The promise of the Government tc delete from the Rural Mortgagors Final Audjustment Bill all reference to the appointment of supervisors ti mortgagors’ farming operations is iedeemed by amendments circulated in the House to-night. The amendments, however, do not refer to part five of the Bill, which is regarded as most vital. The changes proposed to that section are expected to be announced to-morrow. Amendments are proposed to tlie clause dealing with the setting up of the Court of Review. One empowers the Governor-General to transfer to tlie court all or any of the functions of the Supreme Court or of a stipendiary magistrate. The other provides that as long as a Supreme Court judge holds office as judge of the Court of Review he shall be deemed to be absent from his office as judge of the Supreme Court and a judge may be appointed in his stead, provided that the judge of the Court of Review shall not be deprived of the power to exercise any jurisdiction as a judge of the Supreme Court. Greater elasticity is given by an amendment to clause 32, which prescribes the procedure to be adopted by the adjustment commissions when negotiations for a voluntary adjustment of liabilities fail. In the original clause the commissions were empowered to take into consideration the economic conditions prevailing since the passing of the Mortgagors’ and Tenants’ Relief Act, 1933. The amendment provides that economic conditions “during recent years” shall be considered. A new clause provides that a stay order ’ shall not be discharged by the death of the mortgagor. Once an order is made it is to endure for the protection of the mortgagor’s estate. Another amendment provides that any distribution of income made during the operation of a stay order may be made on account of indebtedness incurred by the mortgagor before the commencement of the budgetary period. A further recasting of the clause* dealing with the . distribution of income in such cases provides that wfiore land used by the mortgagor for agricultural purposes is held tinder lease provision should be made for the payment of rent at a rate to be fixed by an adjustment commission not exceeding in any case the rent reserved by the lease before any payment of interest is made to any mortgagee of the mortgagor’s interest in the leased lands.