STATE ADVANCES
ALTERATIONS IN SYSTEM TWO ACCOUNTS ABOLISHED (From Our Parliamentary Reporter) WELLINGTON, Nov. 16. Changes in the State Advances system consequent on the establishment of the State Advances Corporation as an organisation completely controlled by the State are made in a section of the Finance Bill, which was introduced in the House of Representatives to-night, by Governor-General's message. The office of State Advances superintendent is to be abolished, and the powers previously exercised by that official will be performed in future by the Secretary to the Treasury or the assistant-secretary. The State Advances account will be abolished, and the moneys; in it will be transferred to the public account. A further provision also abolishes the Discharged Soldiers' Settlement account, and the moneys m it will be paid into other accounts: to. be, determined by the Minister of Finance. Mortgaged land under the original Act, on becoming, unoccupied, will be deemed to be Crown land. Securities issued under the Rural Advances Act, 1926, are to be charged on the public revenues.
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Bibliographic details
Otago Daily Times, Issue 23351, 17 November 1937, Page 14
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171STATE ADVANCES Otago Daily Times, Issue 23351, 17 November 1937, Page 14
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