Patriotic Fund Beard Policy
WELLINGTON, Thu. (P.A.) The -New Zealand Patriotic Fund Board, at a meeting yesterday, outlined its future policy.’ The Governor General (Sir Bernard Freyberg, V.C.) presided. Sir William Perry moved that the total funds be expended by the year 2000 and that to this end an actuarial investigation of all funds be made immediately and every three years thereafter to show the annual expenditure necessary to exhaust the funds, including compound interest, to that date.
After discussion it decided that no time should be fixed for the expenditure of the total funds, but that an actuarial investigation of all funds be made immediately and every three years thereafter to enable the board to formulate its policy from time to time.
A summary of receipts and expenditure for the period from May 1 to July 31, 1948, showed that the total investments stand at £1,331,647.
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Bibliographic details
Northern Advocate, 12 August 1948, Page 4
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147Patriotic Fund Beard Policy Northern Advocate, 12 August 1948, Page 4
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