Bank changes near
PA Wellington Legislation abolishing restrictions on overseas banks trading in New Zealand could be before Parliament by the end of June, the Minister of ■ Finance, Mr Douglas, said yesterday. The proposed change was announced by the Government last year, but Mr Douglas said drafting the necessary legislation J was more complex than i originally thought, includ- j ing amendments to the ! Reserve Bank Act 1
“I hope to have the legislation in the House by < the end of June. I still ; hope and still intend to pass it this year,” he told 1 a press conference. • Mr Douglas said he had > no idea how many foreign ' banks would start operat- . ing in New Zealand, but he expected only a ' “limited” number would i enter the retail market. '
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Press, 16 April 1986, Page 44
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130Bank changes near Press, 16 April 1986, Page 44
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