BREACH OF CONTRACT.

Waikato Times, Volume 96, Issue 15358, 5 October 1923, Page 2

BREACH OF CONTRACT.

QUEENSLAND'S LAND LAWS. RAISING OF RENTS. Australian and N.Z. Gable Assn LONDON, October 2. The Financial Times gives prominence to what it describes as a statement of fact of the situation in connection with the Queensland Land Act Amendment Act, 1920, which will be placed before the Association of British Chambers of Commerce to-day and the London Chamber of Commerce tomorrow. The statement reviews the Land Acts and Bills since 1902. It •describes the Act of 1920 as confiscatory legislation, and proceeds: "Under this Act rents have been increased by the Land Court in some cases by several hundreds per cent., and such increases have been made retrospective as far back as 1916, on leases granted under a statutory provision that rents should not be increased by more than 50 per cent, in each decennial period. " This is a clear breach of contract with tenants who invested'large sums on improvements such as water bores, reservoirs, and other works, and to a great extent destroys the security of those institutions who advanced money on such' leases."

The Financial Times adds: "In connection with the prospective visit of Mr Theodore, Premier of Queensland, which we understand will take place toward the end of the year, and will have for its'main'objective the raising of further loans of from £20,000,000 to £24,000,000 for Queensland, the above statement cannot fail to' prove of interest."