TO ENCOURAGE INDUSTRY
(12.35 p.m.) CANBERRA, Aug. 21. The Government has decided to relax control of capital issues on firms with a nominal capital of less than £IO,OOO. The relaxation is intended to encourage the development of firms producing building materials, furniture, clothing and other goods. The Prime 'Minister (Mr Chifloy) said the issue of capital and the making of calls up to £IO,OOO within a period of 12 months were also exempted. The control of capital issues above £IO,OOO is to continue indefinitely. Mr Chifley said applications for permission to make issues of more than £IO,OOO would bo favourably considered if the new capital was required for a number of specified purposes. These purposes largely cover materials and other items for the construction, alteration, and repair of houses, basic items of household furniture and equipment, essential items of personal clothing, and the processing and production of primary pi'oducts.
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Bibliographic details
Manawatu Standard, Volume LXV, Issue 224, 21 August 1945, Page 2
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149TO ENCOURAGE INDUSTRY Manawatu Standard, Volume LXV, Issue 224, 21 August 1945, Page 2
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