STATE ADVANCES BILL.

New Zealand Herald, Volume LIX, Issue 18172, 18 August 1922, Page 8

STATE ADVANCES BILL.

CENTRALISING ACCOUNTS.

ESTABLISHING RESERVE FUNDS. [BX TELSGBAPH.-—SPECIAL WELLINGTON. Thursday.

Art amendment to the State Advances Bill was introduced in the House yesterday. The Prime Minister explained that its object was «to provide for certain transfers to the State Advances Department. The Government had been advancing considerable sums to the fruit industry for the provision of cold storage, also under.the Repatriation .Act, in connection with which there would be some loss. A certain amount, too, had been lent to the fishing industry, and ?uite a large sum under the Housing Act. t was proposed to place these and future loans under the Advances Department. Ths amendments were not proposed because there was any fault fca lind, but because it was better to have the accounts under one head than spread about. The officers of the Advances Department were experts in this particular business, and better results might be obtained with the matter placed in their hands. Another technical alteration was to establish a reserve fund of £25,000 in connection with the settlers' branch of the Advances Offices. It was further proposed to establish a reserve fund for the workers' branch of £26,000 out of the net profits of the branch. Both these funds would from time to time be united and reinstated in advances to workers. A similar fund was to be established for the local authorities' branch. Whenever funds exceed £25,000 or such larger sum as the Governor-General by Order-in-Council may direct, the excess shall be paid into the Advances Office. The final clause provides for net profits from the several branches being paid into the sinking fund account after the deduction of such amounts as may be required for paying into the reserve fund and for rcpavments to the LJonsolidated Fund as required by the principal Act.

WIBELESS ON SHIPPING. PROPOSAL IN NEW BILL. IJBX THLEOBAPH.—SPECIAL BEFOBTEB.] WELLINGTON. Thursday. Among the provisions of the Shipping and Seamen Amendment Bill is a clause amending section 50 of the 1909 Act, which authorised regulations requiring ships registered in New Zealand and carrying passengers to be equipped with wireless telegraphy. It is now proposed to omit the words, " and carrying pasjsengers," so that the regulations will apply to ships generally. Substantial increases in the fees for examination of masters and mates and engineers, for the engagement of crews, for the'survey Pri. Jtffi a^ d other E<?rvic «« are irroposed. ihe BUI, if passed by Parliament, will be reserved for the Royal assent.