New Perpetual board

Press, 2 October 1979, Page 20

New Perpetual board

4,’ Because of the acquisition;: e by the A.M.P. Society of L (Perpetual Trustees, Estate;’ s; a nJ Agency Company of) r|New Zealand, Ltd, formally •Icompleted last Friday, a new. t board of directors for the; company has been an-; enounced. -j An announcement by the; a Society said that the chair-' e man of Perpetual will be Mr: ;’(H. W. Huse, deputy chairt'man of A.M.P. New Zealand and a member of the fl society’s principal board, o Mr C. J. Keppel and Lord - Elworth, KG both members i of the society’s New Zealand board, also become directors

• of Perpetual, as do Mr G. E.| : Bowies, the society’s deputy 'New Zealand manager, and | Mr E. G. Hambiing, A.M.P. ! New Zealand’s investment manager. In addition. Mr S. J. R. :Chatten, who has been) (closely involved with Perpet-i (ual’s “resuscitation” over 'the last four years, has! accepted an invitation toi join the new board. Purchase by the A.M.P. Society of the Dunedin-based’ Perpetual Trustees. Estate an 1 Agency Company, for $3.25 million, was announced, on August 22. The company now be-

(comes an asset owned by the society’s New Zealand I policy-holders. The Minister of Justice (Mr McLay) has announced that the trustee Companies Management Act. 1975. (would cease to apply to the ‘‘original’’ Perpetual Trustees and its associate 'company, Perpetual Security Corporation, Ltd. The special legislation was I’applied four years ago, anc’ its release is timed to coin cide with the completion of the sale to the A.M.P Society.