WAR DAMAGE
REDUCTION IN PREMIUM. WELLINGTON, Jan. 14
Regulations giving effect to the recently announced reduction in the amount of premium necessary to be paid under the War Damage Act were gazetted last night. The amount of the reduction is exactly the same as that announced by the Minister of Finance, Mr Nash, some time ago. One new clause alters the amount of premium to be paid by mortgagees, the clause reading as follows :
"The proportion of the war damage premium or premiums payable by tho mortgagee under any mortgage shall not exceed the amount of interest payable under the mortgage for the preceding year." Another clause grants to tenants and others bound under contract with a mortgagor the same rights of recovery as held by tho mortgagor.
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Bibliographic details
Manawatu Standard, Volume LXIV, Issue 39, 14 January 1944, Page 6
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128WAR DAMAGE Manawatu Standard, Volume LXIV, Issue 39, 14 January 1944, Page 6
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