FINANCE BILL

Otago Daily Times, Issue 23351, 17 November 1937, Page 12

FINANCE BILL

MISCELLANEOUS PROVISIONS UNAUTHORISED EXPENDITURE THE LIMIT INCREASED (From Our Parliamentary Reporter) WELLINGTON, Nov. 16. Various miscellaneous provisions dealing with public revenues, loans and the activities of local authorities and public bodies are contained in the Finance Bill which was introduced in the House of Representatives by Governor-General's Message to-night. The retiring age of the Controller and Auditor-general is to be fixed by the Bill at 65 years. Previously there was no statutory retiring age for the occupant of this office. The office of deputy-con-troller and Auditor-general is also regularised. Apparently there was no authority for this previously, and the Bill legalises the Acts of the present Auditor-general during the interval between the retirement of his predecessor and his own appointment.

Power is given in the Bill for the Minister of Finance to delegate certain of his statutory functions to the Secretary to the Treasury.

A clause of some importance increases the limit of unauthorised expenditure under the Publir Revenues Act from £250,000 to £500,000. This is made retrospective to cover the whole of '.he present financial year. Provision is made that in certain cases new companies are to be liable for the payment of taxes payable by former companies consisting of sub stantially the same shareholders. A special sub-clause applies this provision in the case of the Waihi Gold Mining Company, Ltd.. and its successor, the Martha Gold Mining Company (Waihi), Ltd. The Bill allows exemption from amusement tax for entertainments promoted by societies which are not established for profit. County councils are to be permitted to consolidate their special rates, and thereafter raise loans for the benefit of defined areas without a poll of ratepayers. In the miscellaneous section there are numerous clauses validating payments made by the Government and by local authorities. These include payments made for the visit to England by the New Zealand delegates to the Empire Parliamentary Association conference at the time of the Coronation, special payments made to members of Parliament to cover extraordinary expenses, and payments by local authorities for the visit of the Australian naval squadron this year, and the contribution by local authorities to the testimonial fund in recognition of Miss Jean Batten's flight from England to New Zealand last year.