30 mayo 1909 año - New Zealand State-guaranteed Advances Act - passed

Descripción:

Provided for state lending, replacing. the Advances to Workers Act.

Māori land that had been leased was acceptable security under the State Advances Act, but Māori freehold land was not.

The Act thus perpetuated the well-documented barriers faced by Māori wishing to use communally owned land as security. In short, banks would not lend for building on communally owned land as the land could not be taken in the event of mortgage
default.

In addition, only ‘workers’ as defined in the Act were eligible for loans, and the definition
excluded many Māori. The State Advances Act defined worker as ‘a person employed in
manual or clerical work, and who at the time of his application … is not in receipt of an income
of more than two hundred pounds per annum, and is not the owner of any land other than the
land which he offers as security for the loan for which application is made’.73 As many Māori
had interest in land, however small a share, the definition in the Act effectively excluded them
from eligibility for loans.

Source: https://www.hud.govt.nz/assets/Uploads/Documents/Wai-2750/Historical-Maori-Housing-Wai-2750-A009.pdf

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