The State Advances Corporation was a government agency within the

New Zealand government , background_color = #012169 , image = New Zealand Government wordmark.svg , image_size=250px , date_established = , country = New Zealand , leader_title = Prime Minister Jacinda Ardern , appointed = Governor-General , main_organ = , ...

. Established in 1903 as the Government Advances to Settlers Office, it was disestablished in 1974 when its functions were transferred to the

Housing Corporation of New Zealand Housing, or more generally, living spaces, refers to the construction and assigned usage of houses or buildings individually or collectively, for the purpose of shelter. Housing ensures that members of society have a place to live, whether it ...

History

The Government Advances to Settlers Office was set up in 1903 for the purpose of issuing cheap loans to small farmers, settlers and workers as enabled by the passing of the Advances to Settlers Act, 1894. In between the passing of the act and establishing of the office, operations had been overseen by the Superintendent of the Advances to Settlers working in conjunction with the Treasury. In 1909 the office changed its name briefly to the State Guaranteed Advances Office and again in 1915 to the State Advances Department. In 1935 the government set up a Mortgage Corporation which was merged with State Advances Department to form the State Advances Corporation. The State Advances Corporation was responsible for the provision of loans and mortgages for the purpose of constructing new houses, buying existing homes or farms, and the re-financing of existing mortgages. It also had responsibility for the construction, letting and administration of the country's state housing stock. The corporation ceased to exist on 14 October 1974 when its functions (along with the Housing Division of the Ministry of Works) were inherited by the newly established

References

{{reflist Housing in New Zealand 1903 establishments in New Zealand 1974 disestablishments in New Zealand Former government agencies of New Zealand

History

See also

References