NEW REGULATIONS

Dominion, Volume 32, Issue 65, 9 December 1938, Page 12

NEW REGULATIONS

Post Office Money Orders For Abroad LIMIT OF £lO FIXED With the announcement of the Government's new measures for the conservation of London funds, tresb regulations were issued regarding Post. Office money orders and the sending of remittances abroad. The regulations came into force on Wednesday, and the limit now lived mi money orders is £lO a week.

Before last Wednesday there was no limit to the amount of money a person could semi abroad, though single money orders fur more than £4O were not issued. Under the new regulations. however, no person is permitted to obtain more than £lO in money orders in one week. The limit on British postal orders is £1 a week.

Money orders for smaller amounts than the limit specified may be purchased each week, but the total value of the orders must not exceed £lO. The same principle applies to British postal orders. In the past ti person could purchase several money orders to the value of £-10 each, with no limit on the total sums remitted.

A person wishing to send £-10 by money order to London, for example, would be required to obtain a £lO money order each week for four weeks, unless special permission was obtained from the Treasury to remit the money in a lump sum.

MOTOR INDUSTRY

Application Of Restriction

Of Imports “WORKING IN THE DARK” “We have not. the faintest idea of the details or extent of the Government’s proposals. Till actual experience is gained, we cannot forecast anything,’’ said a leading official in the motor trade in Wellington yesterday, when asked to comment, on the effect of the Government’s import licensing system on the motor industry.

The industry had not been approached by the Government, he said, and it was not known whether it would be affected, or whether any decrease in foreign imports would be offset by an increase in British imports. The position was obscure at the moment.

Other dealers approached said they were working completely in the dark. If restrictions were applied to imports of motor-vehicles, and the trend of events suggested that this would come to pass, it would mean a curtailment of staffs.

U.K. MANUFACTURERS Committee To Wait On Comptroller Tlie situation arising from the new export and import regulations was discussed at a meeting of the council of the United Kingdom Manufacturers’ and New Zealand Representatives’ Association held in Wellington yesterday afternoon. The meeting was not open to the Press, but an announcement was made later that a committee had been appointed to wait on the Comptroller of Customs with a view to obtaining an interpretation of certain aspects of the regulations. It was also stated that satisfaction had been expressed with the assurances by the Government that trade with the United Kingdom would be safeguarded.

VALUE OF £1 NOTE

Reply To Prime Minister By 'Telegraph—Press Association. AUCKLAND, December 8. Replying to the Prime Minister’s criticism of his statement yesterday that the New Zealand £1 note was now valueless outside the Dominion, Mr. A. G. Lunn, past, president of the Associated Chambers of Commerce, said today that his remarks had been misunderstood by Mr. Savage. "I know quite well our notes are not in actual circulation outside New Zealand, but before this week one could take New Zealand notes to the value of £lOOO to the Reserve Bank and legally demand exchange on London at the current rate. 'Today this is impossible, therefore the New Zealand note outside the' borders of New Zealand is apparently valueless. I regret Mr. Savage should introduce any question of party politics into this matter, because I am by no means a party politician and have always avoided a party attitude in matters of commerce and finance.

"Mr. Savage saysCthat ‘the value of the New Zealand pound was reduced from 20/- to 16/1 by the Government Mr. Lunn supported.’ I am afraid he doesn’t know which I supported, but in any case, in company with many other business and financial men, I am strongly opposed Io tin l raising of the exchange artificially as was done in 1933.”