INTEREST ON STOCK
MALAYA AND HONG KONG
The Acting Minister of Finance (Mr. Sullivan) announced yesterday that he had received advice from the Secretary of State for Dominion Affairs that in. respect of public loans issued by the Malayan and Hong Kong Governments and Malayan municipal dollar loans, it had been decided that although, there was no legal obligation for interest to be paid on such loans otherwise than in local currency in Hong Kong or Malaya, payment in respect of interest would be made in sterling ex gratia. This had been done to avoid hardship to individual stockholders not resident in enemy or enemy-occupied territory, and to organisations and corporations which had no establishments in enemy or enemv-oceupied territory. The payments" would be subject to adjustment in • any particular case if that was found to be necessary. The encashment of Straits Settlements saving certificates in similar circumstances had also been approved. Holders of the above stocks or savings certificates wishing to apply for payment under the foregoing arrangements should communicate with the Reserve Bank of New Zealand, Wellington, giving the fullest possible particulars in support of thSir applications. - ■
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https://paperspast.natlib.govt.nz/newspapers/EP19420915.2.65
Bibliographic details
Evening Post, Volume CXXXIV, Issue 66, 15 September 1942, Page 5
Word Count
189INTEREST ON STOCK Evening Post, Volume CXXXIV, Issue 66, 15 September 1942, Page 5
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