STOCK MORTGAGES.
AND WOOL LIENS. AN AMENDMENT. (“The Age” Special.) Parliament Buildings, July 5.—A short but important amendment of the Chattels Transfer Act was introduced by Sir Francis Bell in the Legislative Council. The object of the Act of 1922 was to save to shcepfarmers throughout the country whose stock was mortgaged the expense and trouble of annual wool liens to the same mortgagee.
That Act, however, dealt only with the class of mortgages of stock which contain express covenants to execute annual wool liens. Another large class of mortgages of stock contains a covenant to deliver the wool annually to the mortgagee of the stock, but omits an express covenant to grant annual wool liens. The object of the present amendment is to extend to all mortgagors of stock who have expressly granted to their mortgagees the same rights over wool as are conferred by the express covenant to execute wool liens, the benefit intended to be provided for all by the amendment of 1096
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WAG19230706.2.40.4
Bibliographic details
Wairarapa Age, 6 July 1923, Page 7
Word Count
166STOCK MORTGAGES. Wairarapa Age, 6 July 1923, Page 7
Using This Item
National Media Ltd is the copyright owner for the Wairarapa Age. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of National Media Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in