THE MORATORIUM.
QUESTJON GF EXPJRY. STATEMENT BY MINISTER. DECEMBER 30 FAVOURED. ! [BY TELEGRAPH. —FBESS ASSOCIATION.} WELLINGTON, Friday. A deputation from the Wellington Chamber of Commerce and Society of , Accountants waited on Sir Francis Bell, i i Attorney-General, recommending a slidine scale under fee Mortgages Extension Act, and that mortgagees should have the right to charge a mihiTnnTn rate of ; interest of 6 per cent, on mortgages • claiming protection. Sir Francis Bell said the date of ' August 31 had been fixed for the expiry of the Act. Before that time the Expiring Laws - Continuance Act to be introduced during the session would come into operation and extend ■it for a year, and during that year the Government would . proceed to legislate. His idea was to> , extend the whole operation of the Act until December 31, 1920. The sliding scale proposal had been carefully considered by himself, and he thought if they would consider it fully they would find it ' would be unjust in operation. He could not give "an answer at once to the suggestion of charging a penal rate of interest. Replying to a question, Sir Francis Bell said he thought he could agree to the charging of a penal rate in certain | circumstances.
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New Zealand Herald, Volume LVI, Issue 17246, 23 August 1919, Page 9
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204THE MORATORIUM. New Zealand Herald, Volume LVI, Issue 17246, 23 August 1919, Page 9
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