Relax Capital Control
(Rec. 1.30 p.m.) CANBERRA, This Day. The Government lias decided to relax control of capital issues on firms with a nominal capital of less than £10,600. The relaxation is intended to encourage the development of firms producing building materials, furniture, clothing and other goods. .. The Prime -Minister (Mr. Chifiey) said the issue of capital and the making ct calls up to £IO.OOO within a period of 12 months were also exempted. Control of capital issues above £IO,OOO is to continue indefinitely.
Mr. Chifiey said applications for permission to make issues of more than £IO.OOO would be favourably considered if new capital was required for a number of specified purposes. These purposes largely cover materials and other items for construction, alteration and repair of houses, basic items of household furniture and equipment, essential items of personal clothing and processing and production of primary products.
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Bibliographic details
Northern Advocate, 21 August 1945, Page 2
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146Relax Capital Control Northern Advocate, 21 August 1945, Page 2
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