THE ASSETS BOARD'S PROPERTIES

Tuapeka Times, Volume XXXIV, Issue 4894, 25 September 1901, Page 3

THE ASSETS BOARD'S PROPERTIES

The Premier, says the " Otago Daily Times " Wellington correspondent, recently announced that there was some probability of introducing a Bill that would enable the Assets Realisation Board to deal with its estates nnder a scheme similar to that of the I*and for Settlements Act, In some cases there is a difficulty in disposing of lands for cash, and in such instances the properties might be disposed of to batter advantage to leaseholders. To enable the board to do this, however, a special act would have to be passed by Parliament, and the Premier, and Mr W, Eraser, M.H.R., are evolving such a measuure though nothing definite has yet been decided in regard to the matter. The bill, ib is understood, wonld take the form indicated, the board receiving the rents from the leaseholders, and on the date the debentures guaranteed by the Government fall due to* the Government would give the board debentures equivalent to the values agreed on by the board and the Government for the properties disposed of in this manner such properties then being taken over by the Government. The position, in short, would be that the board would be selling to the Government these assets, but the Government wonld not be required to pay for them just now. The question of the board roading estates cut up for leaseholds settlement wonld no doubt crop up, but this difficulty could be overcome by utilising the money received for cash sales for this purpose. This, it is thought, would be a legitimate use of such money, as the cost of roading wonld be added to the value of the property cut up, and the expenditure thus eventually recouped to the board by the Government.