I move for leave to introduce
A Bill to make further and better provision in relation to the issue of Land Bonds under the Land Act 1923, and the guarantee and redemption thereof and payment of interest thereon, and for the disposal of purchase annuities paid under that Act.
The object of this Bill is to enable us to take advantage of the British guarantee of Land Bonds issued under the Land Act, 1923, and also to make certain minor changes in the Land Act itself, particularly in regard to the provision in relation to Land Bonds. The fundamental clause of the Bill is one charging on the Central Fund any amounts that may be necessary to repay sums which might be paid on our behalf in case of default.