DISCHARGED SOLDIERS

Otago Daily Times, Issue 18456, 18 January 1922, Page 8

DISCHARGED SOLDIERS

THE SETTLEMENT SCHEME. * PROPOSED EXTENSION OF BENEFITS. 3Fboh Otm Own Coebespondent.) WELLINGTON, January 17. A Bill amending the Discharged Soldiers’ Settlement Act was introduced in the House" of Representatives to-day. It contained important provisions relating to the postponements of payments by me soldiers and to foreclosures by the Government. A final clause makes provision for the extension of the benefits of the" Act ,by proclamation ;to those “who fought in wars other than the recent war.” If the interest of the mortgagor in any mortgaged property under “The Discharged Soldiers’ Settlement Act, 1915,” and the amending! Act of 1917, is acquired by the Government, the interest so acquired is to be held separate from other interests, and the land may be disposed of by sale or renewable lease, as determined by the land board, with the approval of the Minister. If land so acquired is disposed of ’■ under renewable lease it shall be for a, term of 33 years, with the perpetual right of renewal. The yearly rental will be not less than.' 5 per cent, on the capital value. The capital value for the purpose®, of this section shall be not less than the amount paid by the Government for the land, together with, any costs incurred by the Minister in the purchase and disposal of the land, unless in any case the Minister otherwise specially determines. Where any leasehold'estate or interest is acquired by the - Government by foreclosure under the principal Act, the lease may be transferred, and this new lessee shall pay, in addition to the rental, an amount to be fixed by the Minister in respect of the lease's equity. Any land so acquired by the Government may be disposed of to any person competent to acquire land under the Discharged Soldiers’ Settlement Aot, or to receive advances under section 2 of the Act of 1917, or in special oases with the approval of the Minister it may be disposed of to other persons. Bales of land under these provisions may be for cash dr deferred payments. Sales may be made by public auction, public tender, or private contract Where any estate or interest in land is subject to a Government mortgage qnder the Act, no person shall bo entitled to convey, transfer, or in any other way dispose of the whole or ’any part of his interest in that land, save with the’consent of the Minister. Any purchaser of land under the principal Aot may exchange his purchase agreement for a renewable lease, This lease will date as from the beginning of the original contract, and financial ad-, ’ justments will bo made accordingly. The Minister may postpone the due date of the instalments of principal and interest payable on mortgages under section 2 of the Act of 1917. If such postponement is made, all subsequent- instalments shall bo deemed to ?be postponed for.a like period, and the, term, of the mortgage shall be extended accordingly unless the Minister otherwise determines. . The term .of the mortgage is not to extend under this authority for a period exceeding three years. The Governorgeneral may by proclamation declare that oa and after any . date specified in the proclamation the benefits ol the discharged sol - diers’ settlement scheme shall apply to any person who. while domiciled in- New Zealand, served, beyond New Zealand as a m-afff-ber of any of his Majesty's forces in any war other ■ than. the wax with Germany.