Recent Legislation of Commercial Interest.

Northland Age, Volume III, Issue 20, 27 May 1931, Page 6

Recent Legislation of Commercial Interest.

1. FINANCE ACT (NO. 1) 1931 This Act reduces by 10% all Government salaries (including those of legislators, members of the education service, others —but excluding the Governor General and < ny persons employed for a specific limned tei.n pursuant to a con -act made out of New Zealand), Certain oth r Government grants are correspondingly reduced, Provision is also made to prevent consequent hardship on super.inuat'on funds. Par l 2 ' the act empowers the Arbitration Ccu to amend by general order • w srds or industrial agr-errent • with respect to rates oi • j c id . > exclude fror I gf ner; order ny class or section of workers. This power may be exercised at any time and from time to time at intervals of less than six months uo till the end of 19J2. The expiry of this power does not iim t the currency of any such gener a order. 2. IMMIGRATION RESTRICTION AMENDMENT ACT 1931 By this Act Orders-in Council may be made prohibiting or limiting in number except under permit entry into New Zealand of persons of any specified nationality or race or of any specified class or occupation. 3- MORTGAGORS’ RELIEF ACT, 1931. Except in respect of mortgages executed after i3th March, 1931, and in certain other specified cases mortgages desr ing at any time before the end of 1932. (unless the Act is meantime discontinued by Proclamation) to exercise powers of sale, rescission, or to file a bankruptcy petition against a mortgager must give him notice in writing of such intention. The mortgager may then apply to the Supreme Court for relief (Magistrates Court if amount does not exceed £2,000).