CHANGE LIKELY.

Ashburton Guardian, Volume 56, Issue 245, 29 July 1936, Page 4

CHANGE LIKELY.

THE BANK OF NEW ZEALAND.

GOVERNMENT DIRECTORS

(Per Press Association).

WELLINGTON, July 28

New arrangements for tho appointment of Government nominees on the directorate of the Bank of New Zealand a.ro mado in a special clause included in the amendments to the Finance Bill, which were introduced in the House of Representatives hv GovernorGeneral’s Message to-night. Tho amendment provides for the appointment of directors at any time for a term of three years. At present the directors must he appointed during March. The effect of this amendment will he that the directors appointed to replace Sir Harold Beauchamp and Mr Oliver Nicholson, who retired from the directorate last March, will hold office for three years from the date of their appointments. So far no appointments to these two positions have been made. A sub-clause provides that the Government nominees at present on the directorate will be deemed to have been appointed for the term ending on March 31 next. This would enable the Government to appoint entirely new Government directors to the directorate by next year.