New Zealand Gazette – 1922 – No. 60

Page 2200

✨ Public Service Superannuation Fund Details

for in the same manner as other receipts for the fund. In
addition, the receiving Postmaster is directed to advise the
Secretary to the Board by “collect” telegram of such lodgment.
If the loan be granted, the borrower will be advised and
instructed as to forwarding deeds. If the loan be refused he
will be informed without delay. In the event of a loan being
granted to a married woman the husband is usually required
to join in the mortgage.

The scale of solicitor’s fees for preparing mortgages on account
of loans granted by the Board is as follows :—

Not exceeding	£	£ s. d.
...	250	1 10 0
,,	500	2 10 0
,,	750	3 5 0
,,	1,000	3 10 0
,,	2,000	5 10 0
,,	3,000	7 7 0
,,	4,000	9 9 0
,,	5,000	10 10 0
,,	6,000	12 10 0
,,	7,000	14 10 0
,,	10,000	17 10 0
,,	15,000	21 10 0
,,	20,000	23 10 0

If the title is partly under the Land Transfer Act and partly
under the old system, necessitating the preparation of distinct
securities, the above scale will not apply. It will be increased
in each case by 10s. 6d. The scale does not include fees actually
paid out of pocket for searches, to interpreters, for registration,
&c., or costs incurred to complete prior title, but it does include
all attendances and letters explaining the title or reporting on
conclusion of transaction, as well as agents’ charges rendered
necessary through the solicitor not residing in the town in which
the registry office is situated.

To enable Postmasters to supply the public with the information,
it is notified that, until further advice, loans on mortgage granted
by the Public Service Superannuation Board will be for a period
of not more than five years, and that the rate of interest will be
5½ per cent. per annum. Table mortgages will also be granted at
the same rate of interest and for periods not exceeding twenty
years.

Loans will be made only on first mortgages, and will not be
granted for an amount exceeding three-fifths of the Government
value of the property. Sound freehold security only will be
accepted.

Contributors to the fund should be asked to assist the Board
in the direction of advertising the business wherever possible, in
order to strengthen the fund and so benefit both themselves and
their fellow-officers. Anything appearing in the newspapers relating
to the Board’s investments or affecting persons who have
borrowed money should be cut out and forwarded to the Secretary
to the Board with any comment the Postmaster or contributor to
the fund may care to make.

Public Service Superannuation Fund Payments.—Payments
on behalf of the Public Service Superannuation Board may be
made only on the prescribed form. These vouchers are forwarded
direct to the annuitants by the Secretary of the Public Service
Superannuation Board, Wellington, and may be paid upon presentation
at any money-order office at which they are presented within
three months from date of issue. But payment must not be
made before the due date, unless a special instruction to that

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