BAN ON TRANSFER OF BANK SHARES
(Rec. 12.10 p.m.) . CANBERRA, This Day.
Bank shares henceforth cannot be sold or otherwise transferred to people in other countries, except in special circumstances approved by the exchange control. The Commonwealth Bank has informed the Stock Exchange that as a general rule in future the exchange control would not grant approval for the transfer of bank shares from Australian to overseas registers, whether for purposes of sale or otherwise. The decision by the Commonwealth Bank follows closely the news that some Anglo-Australian banks were limiting the transfers of their shares from the London and New Zealand registers to the Australian register pending clarification of the bank nationalisation proposals. Compensation for shareholders of AngloAustralian banks is rendered difficult by the agreement for freezing London balances made with the British Government. -
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Greymouth Evening Star, 25 September 1947, Page 7
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135BAN ON TRANSFER OF BANK SHARES Greymouth Evening Star, 25 September 1947, Page 7
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