§ Mr. BLINDELLasked the Minister of Agriculture if there is any limit to the advances which may be made to any individual or company under Part I of the Agricultural Credits Act, 1928; and, if so, the extent to which such advances may be made?
§ Dr. ADDISONThe amount which may be advanced under Part I of the Agricultural Credits Act, 1928, is limited by Section 2 of the Act to two-thirds of the estimated value of the property at the time of the loan.
Sir B. EYRES MONSELLasked the Minister of Agriculture the number of smallholders who have been granted loans under the Agricultural Credits Act, 1928, and the smallest acreage in respect of which a loan has been granted?
§ Mr. N. BUXTONThe Agricultural Mortgage Corporation has granted loans to 287 borrowers on the security of farms having an area of 50 acres or less. The smallest acreage in respect of which a loan has been granted is two-and-three-quarter acres.
Sir B. EYRES MONSELLasked the Minister of Agriculture whether the Agricultural Mortgage Corporation has fixed a limit as to the acreage of farms in respect of which applications for loans under the Agricultural Credits Act are not entertained?
§ Mr. BUXTONI am informed that the Directors of the Agricultural Mortgage Corporation have not fixed a limit as to the acreage of farms in respect of which applications for loans under the Agricultural Credits Act, 1928, Part I, are not entertained.