WAR LOAN
TRUSTEES’ OBLIGATIONS. (Per Press Association— Copyright). WELLINGTON, Dec:. 10. Amending regulations to the Finance Emergency Regulations No. 2, which appear in to-day’s Gazette, particularly apply to the obligations of trustees' to subscribe to lie compulsory war loan, which is known as the New Zealand Government Loan, 1953. There was some doubt of the obligation of trustees whose beneficiaries are not- absolutely entitled in possession. Tlu; regulations define the obligation of these trustees, and restrict their liability to the assets of a trust estate in the hands of trustees. Another clause of the regulations sets out the dates when offences arc committed under the main regulations. If an appeal has not been lodged an offence is committed at the c-xpiiation of 21 days after the date of the original notice. If an appeal lias been lodged, an oll’eiuv is committed at the expiration of 21 days after the appeal is definitely decided. An amending notice under the regulations is also issued confirming the position of trustees
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Bibliographic details
Hokitika Guardian, 11 December 1940, Page 5
Word Count
167WAR LOAN Hokitika Guardian, 11 December 1940, Page 5
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