ECONOMIC MOBILISATION

Wanganui Chronicle, Volume 86, Issue 56, 7 March 1942, Page 5

ECONOMIC MOBILISATION

PLANS IN AUSTRALIA MODIFICATIONS ANNOUNCED Canberra. March 6. Important modifications in the Federal Government’s national economic mobilisation plan are to be made to permit the resumption of some dealing in shares, stocks and land. The Government has accepted the recommendations of a joint committee of both Houses appointed to report, on the plan. Regulations embodying modifications will be gazetted in a few days. The Government, is to amend the regulation limiting profits to 4 per cent., exclusive of tax so that it will take effect from a date to be fixed by Parliament but no earlier than July 1 next. The sale of shares which have been registered in the seller’s name for not less than live months is to be permitted and stock exchanges have undertaken to fix maximum and minimum prices within which the sale shall be made. The transfer of shares and land by gift is permitted. Sales of country lands will be permitted wffiere the selling price is not more than 10 per cent, above a fair and reasonable price on February 10, 1941, and of all other lands where the vendor has been the owner for not less than 12 months before the date of sale and the selling price is not more than 10 per cent, above a fair reasonable price on February 10, 1941.