PARLIAMENTARY NEWS.

Otago Daily Times, Issue 19239, 1 August 1924, Page 8

PARLIAMENTARY NEWS.

NOTES EROM PRESS GALLERY. (Prom Our Own Correspondent.) WELLINGTON. Julv 51. TRUSTEE AMENDMENT BILL. The Trustee Amendment Bill, which has been road a first time in the Legislative Council, was introduced by Sir Francis Bell. One of its objects is to bring into conformity with the law of England the law of Now Zealand relating to the powers of composition by trustees. It ig pressed to repeal the provision which defines the eixsting dimited powers of composition possessed by administrators. There is also a proposal to repeal section 42 of “The Finance Act, 1922,” which was a temporary provision enabling trustees to grant a limited measure of relief to purchasers of trust property, and which expired at the end of 1923. There is a clause in the Bill enabling trustees to invest trust moneys in any bank, and it is proposed to repeal the provision which authorised the investment of trust funds with “approved institutions.” IMPERIAL CONFERENCE. Mr Massey has nothing to say at present regarding the Imperial Conference, which it is proposed to hold in October. It seems very unlikely that ho could attend such a Conference, as in October Parliament will most probably be dealing with a good deal of the important business of the session.