NO STATEMENT YET
FUTURE _OF BANKS BRANCHES IN N.Z. WAIT AND SEE ATTITUDE CANBERRA, Sept. 26. The Prime Minister, Mr. J. B. Chifley, has declined to comment on the restriction. placed on the transfer of bank shares from Australia to overseas registers. He said that the full policy of the Government in all banking matters would be explained when the proposed bill was brought before the House. It. is understood, however, that the Government wants to acquire as many shares as possible on the Australian register following the decision not to use Australian sterling funds in London- . Mr. Chifley would not indicate whether the Government intended to take over the trading activities of Australian banks in New Zealand. _ This was considered in the preparation of the bill. He said he hoped to introduce the bill to nationalise private banks the week after nextIt is learned that the Government has engaged five constitutional authorities to examine the draft in an attempt to ensure that there will be no loopholes permitting a successful challenge.
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Bibliographic details
Gisborne Herald, Volume LXXIV, Issue 22445, 27 September 1947, Page 8
Word Count
172NO STATEMENT YET Gisborne Herald, Volume LXXIV, Issue 22445, 27 September 1947, Page 8
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