Trustees’ Borrowing Powers
PROVISION TO BE MADE PERMANENT Per Press Association. WELLINGTON, Last Night. The temporary provision that expired on March 31 last in connection with the borrowing powers of trustees is made permanent by the Trustee Amendment Bill, which was introduced in tho House of Representatives to-day. The temporary authority was conferred on trustees by a clause in the Finance Act 1931 (No. 2) and, subject to approval of tho Supreme Court, enabled trustees to borrow on the security of trust property and to apply the moneys so borrowed for the benefit of the persons for whose benefit the trustees could lawfully apply tho capital moneys of the trust, if such were available.
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https://paperspast.natlib.govt.nz/newspapers/MT19330928.2.27
Bibliographic details
Manawatu Times, Volume LIV, Issue 7273, 28 September 1933, Page 6
Word Count
114Trustees’ Borrowing Powers Manawatu Times, Volume LIV, Issue 7273, 28 September 1933, Page 6
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