PASSED INTO LAW

Otago Daily Times, Issue 23364, 2 December 1937, Page 14

PASSED INTO LAW

MINING AMENDMENT BILL POINTS EXPLAINED BY MINISTER (From Our Parliamentary Reporter) WELLINGTON, Dec. 1. Points raised by. members were answered by the Minister of Mines (Mr P. C. Webb) in his reply to the debate on the Mining Amendment Bill in the House of Representatives to-night. Mr J. O’Brien (Govt., Westland) had expressed the opin- > ion that the proposal to allow the Mines Department to retain 10 per cent, of the goldfields revenue for the collection of it on behalf of the local bodies might be altered. “ I think a charge of 10 per cent, is on the high side and that the department would be amply rewarded with 5 per cent.,” Mr O’Brien said. “Ten per cent, seems to me rather an imposition.” The Minister said the proposed deduction of 10 per cent, was a purely departmental matter. “I am quite prepared,” Mr Webb said, “ to consider the possibility of reducing the charge to 5 per cent, before the Bill comes before the Legislative Council.” The Minister stated that the clause in the Bill asking for an annual statement of the affairs of mining companies was a reversion to the former law. Mr G. W. Forbes (Opposition, Hurunui) asked the Minister to explain the reason for the inclusion of the clause and to explain what it was hoped to prevent by securing annual reports. In ordinary circumstances, Mr Forbes said, the details asked for would be contained in the balance sheets of the companies. “ The clause was originally in the Companies Act, but was deleted, Mr Webb said. “ The returns were then furnished under regulations, but this method was found unsatisfactory and the old clause has been revived in this Bill.” The Bill was put through its concluding stages and passed without amendment.