Control of Trusts

Manawatu Times, Volume LV, Issue 7009, 19 November 1932, Page 7

Control of Trusts

LEGISLATION MAY BE AMENDED BUT NOT REPEALED. Per Press Association. STRATFORD, Nov. IS. Interviewed in regard to llio question of the repeal or amendment of tho Commercial Trusts Act, the Board of Trade Act and the Cost of Living Act, arising out of a statement by Mr Coates, reported by a Press Association message on Thursday, that a consolidation of those measures might be possible, the Hon. R. Masters, Minister of Industries and Commerec, stated that the Prime Minister was very definite in his decision not to repeal the Acts in question and in this Mr Masters, as Minister in charge of the legislation, concurred. Recent convictions under tho Commercial Trusts Act demonstrated quite clearly the necessity for this legislation remaining on the Statuto Book as a protection for tho public against the adoption of trust methods. The question of suitable amendments, however, was being considered by himself, tho Crown Law Office and his Department at present in accordance with, the “romiac made bj the Prime Minister to a deputation of business men which Avaited upon him recently in Wellington. “Traders,” said Mr Masters, “are entitled to evfery consideration, and it is with a view of seeing that this consideration is given without injury to the purchasing public that the amendments are being considered.”