STOCKS OF OIL

New Zealand Times, Volume XL, Issue 9139, 3 September 1915, Page 7

STOCKS OF OIL

REGULATION OF TRADE AND COMMERCE BILL.

Sir Francis Bell moved the second nodding Of the Regulation of Trade and Commerce Amendment BUI (No. 2). He explained that its object wne to prevent those holding stocks of oil at the time of the passing of the Budget resolution from adding to the prices ot those stocks on expense-in the shape 01 jfnty which they had not incurred. An amendment to be brought forward in oommlttoo woa In the interests of hoid- ■ era of stocks who were to bo allowed Ito mix them or change them although 1 they wore not kept in the same buifdlinga. In committee the following new clause •nras added to the Wilt — ' ■ "7a. (1) A Collector of Customs at the ! request of any person wno la the owner ’df any stock of refined mineral oil imported on or before the twenty-sixth •day of August, nineteen hundred and jjjfteon (hereinafter called duty-froo #took), and who is also the owner of any a took of refined mineral oil imported after the rsald day (hereinafter called duty-paid stock),' may from time to time, approve of the substitution of any mineral"oil*lSclua«3'"ia'-' the duty-paid 'fltook ■ for an equal quantity of mineral ;«U of the same doecrlption included in '■The duty-free stock. "(2) On eudh approval being given, the duty-paid stock to which the approval 'isx tends shall in respect of oil snbAeqnont dealings therewith l be deemed I for all the purposes of this Aot to be ; duty-free ebook, and the duty-free ebook •to which the approval extends shall in lyespect of nil subsequent dealings thereVfth be deemed for all the purposes of ;thiw Aot to bo duty-paid stock." '■ .The bill w;w passed : through its final. AtftgOS. v '■■■•'