THE MORATORIUM BILL.

New Zealand Herald, Volume LXI, Issue 18763, 17 July 1924, Page 10

THE MORATORIUM BILL.

CLAIMS FOR EXTENSION. NOTICE BEFORE DECEMBER 31, COURT MAY ALLOW TWO YEARS REPAYMENT BY INSTALMENTS. [B¥ TELEGRAPH. —SPECIAL REPORTER.] WELLINGTON. Wednesday. The Minister for Finance circulated the Mortgages Final Extension Bill, intended to deal with the lifting of the moratorium, in the House of Representatives to-night. The bill proposes to replace the existing legislation, on the subject, and in addition to the new provisions forecasted by Mr. Massey, embodies various clauses from former measures necessary to define its application and the procedure in regard to mortgages affected. It concerns only those mortgages made before October 24, 1919, to which the moratorium now applies. The new feature is the scheme for conditional extension of mortgages beyond December 31, 1924. The Supreme Court is empowered to extend the duo date of the mortgage agreement or other document executed subsequent to the mortgage. The obligation for applying for an extension lies, however, with the mortgagor. Applications must be filed not later than December 31 next. Otherwise no extension order may be made. The limit of extension is December 31, 1926. The Court may exercise its jurisdiction notwithstanding any agreement between the parties and notwithstanding the fact that the date of payment of principal fbvstd by the mortgage or any previous extension has already passed. In determining an application for extension, the Court shall give consideration to the effect of extension on security to the mortgagee, the inability of the mortgagor to redeem the property, his conduct in respect of any breaches of the mortgage covenant, and any hardship that would be inflicted on the mortgagee by the continuance of the mortgage or on the mortgagor by its enforcement.

The Court is empowered to fix several dates for the payment in parts of the principal and may terminate the extension order by default of payment of any part. There shall be no appeal from the extension order of a Judge of the Supreme Court but an appeal from a registrar's order may be taken to a Judge. All previous restrictions on the rights of mortgagees cease to have force with the passing of the present bill. Until after December 31 next the mortgagee is prohibited from demanding payment of principal, exercising any power of sale or entry or instituting any action without special leave of the Supreme Court. Similarly he may not exercise such powers after a motion for extension has been filetf and prior to the notice being heard by the Court. Among the existing provisions to be continued are those providing that in the absence of any agreement, the mortgagor may repay the principal upon giving three months' notice; authorising ■trustee mortgagees to arrange renewal of mortgages; and fixing the rate of interest to be paid in respect of extended mortgages at the minimum of 6£ per cent.

ROADMAKIN® METHODS.

DIVERSITY OF OPINION.

A REPORT TO BE MADE.

[BY TELEGRAPH.—SPECIAL REPORTER.] WELLINGTON. Wednesday.

The great diversity of opinion among engineers as to the most suitable form of road construction to adopt to meet the requirements of motor transport in New Zealand was recently mentioned by Mr. A. Bell (Bay of Islands) in the House of Representatives. He asked the Minister for Public Works whether lie would consider the necessity of sending a suitable officer of the Public W©rks Department abroad to investigate and report upon the problem with a view of saving the Government and the public bodies from the enormous and useless expenditure going on to-day in the construction of roads that were unsuitable, and that were rendered useless in three or four years by the advent of this form of transport. The Hon. J. G. Coates to-day replied that it was inevitable that there should be diversity of opinion among engineers as to the most suitable form of road construction, because the same fojm of con- • struction was certainly not suitable for all situations. A diversity of forms of construction had been, and always would be, used to suit the particular circumstances. The department had had an officer abroad investigating the subject, and no doubt his report would 3&elp in the selection of the best types of construction for the various districts and circumstances in which roads were being constructed.

WAR ON RABBIT PEST.

FINANCES OF THE BOARDS.

INCREASED SUBSIDIES URGED.

[ex TELEGRAPH. —SPECIAL REPORTER.] WELLINGTON. Wednesday. The rabbit pest was the subject of two questions answered by the Minister for Agriculture in the House of Representatives to-day. Mr. de la Perrelle (Awarua) asked whether, in view of the increase of rabbits in all parts of tho Dominion, the Minister would consider' tho question of increasing the subsidy to rabbit boards so that these bodies could materially cope with the pest. The Hon. W. Nosworthy replied that it was not correct to state that rabbits were increasing in all parts of the Dominion, though he would like to see a much greater reduction in their numbers. The question of rabbit boards and subsidies had been under consideration of late, and it might become advisable to amend the existing legislation in some directions and consolidate it. It was doubtful, however, whether this could be dealt with during the present session. Mr. F. Lye (Waikato) asked whether the Minister would have, the Act amended in the direction of raising the annual limit, receivable by members of a rabbit board, from £10 to £20, in respect of services rendered or goods supplied, and would also provide that subsidies could be paid under the Act on the amount of money spent on rabbit destruction, where members in a board's area paid only a very small rate, and each individual paid for the destruction of rabbits on his own property. "The disqualifications imposed on members of rabbit boards are the same as those which apply to members of county councils," said Mr. Nosworthy. principle is undoubtedly sound, and it is not considered desirable to make any exceptions in favour of members of rabbit boards, particularly as the Atidit Office is already empowered to make exceptions in special cases."

EXTRADITION AMENDMENT.

INCLUSION OF BRIBERY.

[by telegraph, —special reporter.] WELLINGTON. Wednesday.

Certain machinery clauses are contained in the Extradition Amendment Bill (Hon. C. J. Parr), which has been read a first time in the House of Representatives. The bill provides that stipendiary magistrates shall, without further appointment, be commissioners for the purposes of the principal Act, section 3 of which is repealed. Bribery is added to the list of extradition crimes.