MORTGAGOR’S RELIEF

Hawke's Bay Tribune, Volume XXIV, Issue 196, 2 August 1934, Page 4

MORTGAGOR’S RELIEF

Opposition to Extension MINISTER UPHOLDS ACT By Telegraph—Press Association WELLINGTON, August 1. Further representations against any further extension of the Mortgagors and Tenants Belief legislation are to be made to the Government by the Associated Chambers of Commerce. At an executive meeting to-day a letter was read from the Minister of Justice, the Bt. Hon. J. G. Cobbe, in reply to a communication by the Associated Chambers in which the Association asked that the legislation be not extended beyond the expiry date provided (1935). The Minister stated that the Government was of the opinion that the time was not yet ripe for repeal of the legislation in question. lie had recently obtained reports from the chairman of the various adjustment commissions with regard to the working of the Act, and these disclosed unanimity of opinion that the mortgagors’ relief legislation had been most beneficial and necessary, and was still necessary from the point of view of the country as a whole. •‘Personally,” said the Minister, ‘‘l am more than ever convinced that the legislation was absolutely essential and that a policy of laissez faire would have resulted not only in extreme hardship and suffering but would have resulted in chaos. I may state thut it is not the present intention of the Government to introduce any further amendment to the Mortgagors and Tenants Belief Act this session, and I can assure you that the legislation will be repealed as soon as conditions warrant such a course.” Mr A. F. Wright pointed out that any application lodged before December 31. 1935, could be dealt with under the Act notwithstanding its expiry. The rights of mortgagors were thus protected, at any rate for two years after the expiry of the Act, so that, at the present time at all events, there was no urgent necessity for the extension of the existing legislation.