ENDORSEMENT OF CHEQUES
Elimination Being Considered
(New Zealand Press Association) WELLINGTON, March 23. The question of eliminating the need for endorsement on the majority of cheques is at present under consideration in New Zealand. Recommendations have been made by the Associated Banks to the Reserve Bank, whose responsibility it will be to advise the Government whether amending legislation is thought desirable. The Associated Banks’ recommendations have not yet been made public but they are understood to be favourable toward an easing of the endorsement requirements. The New Zealand Society of Accountants also has a committee investigating the question. In the editorial of the latest issue of its journal the society says: “Cheque endorsement is an irksome task at the best of times, and the supposed safeguard of requiring the payee’s endorsement is illusory. The case for the enactment of a New Zealand Cheques Act is a strong one.”
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Bibliographic details
Press, Volume XCVII, Issue 28543, 24 March 1958, Page 15
Word Count
148ENDORSEMENT OF CHEQUES Press, Volume XCVII, Issue 28543, 24 March 1958, Page 15
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