OPERATION OF TRUSTS

New Zealand Herald, Volume LXIX, Issue 21344, 19 November 1932, Page 11

OPERATION OF TRUSTS

VALUE OF PRESENT LAWS OPPOSITION TO REPEAL [BY TELEGRAPH —PRESS ASSOCIATION] STRATFORD, Friday Interviewed in regard to the question of the repeal or amendment of the Commercial Trusts Act, Board of Trade Act and Cost of Living Act arising out of a statement by Mr. Coates as reported in a Press Association message yesterday to the effect that the consolidation of these measures might be possible, the Hon. R. Masters, Minister of Industries and Commerce, stated to-day that the Prime Minister was very definite in his decision not to repeal the Acts in question, and in this Mr. Masters, as Minister in charge of the legislation, concurred.

Recent convictions under the Commercial Trusts Act demonstrated quite clearly the necessity for this legislation remaining on the Statute Bobk as protection for the public against the adoption of trust methods, the Minister said. The question of suitable amendments, however, was being considered at, present by himself, the Crown Law Office and his department, in accordance with the promise made by the' Prime Minister to the deputation of business men which waited upon him recently in Wellington. „ '-'Traders," said Mr. Masters, "are entitled to every consideration, and it is with a view to seeing that this consideration is given without injury to the purchasing public that the amendments are being considered."