The Wellington. City Council decided yesterday afternoon to contribute its share of the cost of an appeal to the Privy Council, which is being considered by the Mount Albert Borough Council and local bodies which were associated with it in an action in the Court of Appeal last year. The Court of Appeal decided that Victorian emergency legislation reducing interest rates had no application to interest payable in Victoria on local body debentures issued in New Zealand. The decision was important to a number of bodies interested in holdings exceeding £1,000,000.
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Evening Post, Volume CXXII, Issue 96, 20 October 1936, Page 16
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91Untitled Evening Post, Volume CXXII, Issue 96, 20 October 1936, Page 16
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