CLARIFICATION WANTED.

Auckland Star, Volume LXXI, Issue 94, 20 April 1940, Page 4

CLARIFICATION WANTED.

FREE EXCHANGE ISSUE. CHAMBERS OF COMMERCE VIEW. > (By TVloirriiph.—Own Corrospondont.) 1 WELLINGTON", this day. i Tin l >oc. ctiU-.v of the Associated Champi.:-, of Coimnercf, Mr. A. O. Heany. has I .vi-itton to the JMini.-ter of Finance, the I Hon. Naeh. a*»kiug for a clarification I ot the free issue. j Mr. Heany asks for enlightenment on •wo main point.s as under:— | j "'ill What is the position of the firm I which lias been grunted import licenses apainst tree exchange? Docs the restricI tioii whicli you have announced as applyj in--' to the use of free exchange automat.- ! cally cancel these licenses^ "(2) If it ic not intended that the license above-mentioned should be cancelled, what is the position of the business concerns which acquired free exchange, put in applications for licenses under the third period, but who have not yet been ' granted licenses"' Will those firms be granted these, or does the restriction mean that the delay in the issue of the ' balance of third-term licenses has lost to those firms, through no fault of their own, their opportunity to secure licenses equivalent to those obtained bv their competitors?"' Mr. Heany lias informed the Minister that the question exercising the minds of numerous l firms which had bought free exchange was how they stood in relation ■ to such funds as they had acquired, in ■ good faith, for the purpose of securing , import licenses. ,