BANK OF N.S.W.
Amendments Approved (N.Z. Press Association) WELLINGTON, July 1. Proprietors of the Bank of New South Wales in Sydney on Friday voted unanimously in favour of amending the bank's deed of settlement. The resolution must be confirmed at a further meeting to be held in September. The president of the bank Mr John Cadwallader. said that the meeting was a milestone in the bank’s history To revise the deed the bank had to arrange with the Governments of New South Wales and New Zeeland for amending legislation, and also to seek the consent of the Federal Treasurer The amendments include the removal of the reserve liability on the bank’s shares, and the splitting of existing £2O shares into £1 each. Mr Cadwallader said that the adoption of the resolution would bring the bank’s constitution and regulations into conformity with present-day conditions and with modern practices in company matters
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Bibliographic details
Press, Volume CII, Issue 30172, 2 July 1963, Page 17
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150BANK OF N.S.W. Press, Volume CII, Issue 30172, 2 July 1963, Page 17
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