MORTGAGES FINAL EXTENSION.
COMMITTEE AMENDMENTS. (Special to “Tribune.”) Parlt, Buildings, Sept. 10. Important amendments have been made to the Mortgages Final Extension Bill by the Public Accounts Committee of the House of Representatives.. As amended the bill extends the morotorium until July 31st.. 1925, but no extension shall be made by the court unless notice of motion has been made by the mortgagor before March 31st. The date originally fixed for the termination of the moratorium was December 31st next. The committee had also amended the bill to allow a trustee to arrange a renewal of trustee mortgage at such rate of interest as he thinks fit. It was previously proposed that the interest rate on trustee mortgages should not be less than 6 per cent. A new clause has been added providing that no party to any proceedings before the Supreme Court shall be liable to pay the costs of any other party to the proceeding.
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Bibliographic details
Hawke's Bay Tribune, Volume XIV, Issue 234, 10 September 1924, Page 5
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157MORTGAGES FINAL EXTENSION. Hawke's Bay Tribune, Volume XIV, Issue 234, 10 September 1924, Page 5
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