Sir John accuses A.W.A.
tN.Z. Press Association}
WELLINGTON, Oct. 2. A former Prime Minister (Sir John Marshall) today accused the Amalgamated Wireless of Australia (A.W.A.) Company of breaching an undertaking to make its shares a public Issue.
Speaking during the debate on the estimates of the Department of Trade and Industry, Sir John said the company had made an agreement with him in 1964, when he was Minister of Trade and Industry, that it would make its shares a public issue on the New Zealand market. But the Development Finance Company, which had bought a 40 per cent interest in the company, had “aided and abetted” A.W.A. to breach the undertaking.
The Minister of Trade and Industry (Mr Freer) said Sir John had done “precious little" between 1964 and 1972 about putting A.W.A. on the New Zealand share market. He said it was very convenient for the National Party to be self-righteous now. It was the policy of the D.F.C. to hold shares when it was an advantage for the establishment of a new industry or the expansion of an industry.
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Bibliographic details
Press, Volume CXV, Issue 33964, 3 October 1975, Page 10
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181Sir John accuses A.W.A. Press, Volume CXV, Issue 33964, 3 October 1975, Page 10
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