OVERSEAS SHARES

Evening Post, Volume CXXX, Issue 26, 30 July 1940, Page 9

OVERSEAS SHARES

FUTURE DEALINGS

STATEMENT BY RESERVE BANK

Holders of "foreign securities," as i defined in the Finance Emergency Regulations, 1940 (No. 2), are reminded that particulars of all such holdings must be notified to the Reserve Bank by July 31. As from Monday, August 5, and until further notice, dealings" will be allowed in such securities between New Zealand residents as follows: — 1. Securities on New Zealand Registers.—These securities can be dealt in without prior permission provided they were on the New Zealand register on June 18, 1940, and the company concerned agrees to fulfil the following requirements (a) To furnisn the | Reserve Bank with a list of shareholders on the New Zealand register on that date; (b) to furnish a similar list annually; (c) to decline to regis : ter a transfer of shares into the name of a person not ordinarly resident in New Zealand at the time; and (d) to refuse to transfer any shares to an- ! other register, without the permission of the Reserve Bank, unless required to do so to comply with the law cf the country of domicile of the company. 2. Securities Registered Overseas.— Before these securities can be dealt in jit will be necessary for the selling broker to obtain permission from the Reserve Bank. A special form for this purpose will be supplied to the Stock Exchanges. Permission to deal in both classes of securities is subject to the further condition that a form recording the transaction is completed by both the selling broker and the buying broker and is returned by the latter to the Reserve Bank on completion of the transaction. These forms also are being supplied to the Stock Exchanges. Sales of securities otherwise than to New Zealand residents will require special permission from the Reserve Bank. In such cases proceeds received overseas must be remitted to New Zealand through agents nominated by [the Reserv/e Bank for the purpose.