DOMINION PARLIAMENT.

Waikato Times, Volume 117, Issue 19545, 6 April 1935, Page 7

DOMINION PARLIAMENT.

RURAL MORTGAGES. AMENDMENT SETTLED. THE COMPENSATION CLAUSE. (Times Parliamentary Correspondent) ' WELLINGTON, Friday. In tlie settlement effected to-day between the managers of both Houses with regard to the Rural Mortgagors Final Adjustment Bill, most of the Legislative Council’s amendments have been retained, but the hardship aspect of the compensation clause has been recast. This amendment relates to clause 04, governing the conditions on which a mortgagee may take over the ■farm lands of a mortgagor. The clause was amended in the first place by the Legislative Council on the motion of Sir Heaton Rhodes, but the managers readied a compromise. The clause in its final form reads as follows:—“If the Court determines that the mortgagor shall not be entitled to continue in use and occupation of tlie farm land, it may, on the application of any mortgagee, give that mortgagee tlie right to take over the farm lands of the mortgagor subject to all prior encumbrances, exclusive of any arreas of rates, taxes, interest or other charges, and subject to the condition that unless payment of compensation would be the cause of undue hardship to the mortgagee, tlie mortgagee shall pay to tlie mortgagor an amount of compensation as remuneration for liis services during tlie operation of tlie stay order. “The amount, if any, of such remuneration shall be fixed by the Court, having regard to tlie financial position of tlie mortgagor and mortgagee, and to the degree of hardship suffered by them respectively.”

The other amendments were mainly verbal and were either agreed to or not pressed. in the Legislative Council the. Hon. R. Masters congratulated Sir Heaton Rhodes and others on the success of their amendments. Tlie amendment to clause 64, he said, as altered 'by the managers, was not weakened. Tlie House of Representatives also readily agreed to the amendment,