VOTING CURBS
(N.Z. Press Association) WELLINGTON, Dec. 13. The Government had no plan to introduce legislation to restrict in any general way the voting power of overseas shareholders, the AttorneyGeneral (Mr Hanan) said in Parliament today. Mr Hanan was replying to a question from Mr M. A. Connelly (Lab., Riccarton). He said it was the Government’s policy to keep a close watch on the degree of overseas ownership or control of New Zealand companies and to impose restrictions in the particular area involved if it were not in the country’s interest that overseas shareholders should exert undue influence. The Attorney-General said New Zealand had not experienced to the same degree what had happened in Australia, causing the Australian Government to legislate to restrict the voting rights of overseas shareholders.
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Bibliographic details
Press, Volume CVIII, Issue 31862, 14 December 1968, Page 14
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129VOTING CURBS Press, Volume CVIII, Issue 31862, 14 December 1968, Page 14
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