IMPORTS FROM AUSTRALIA
METHODS OF PAYMENT,, ——4*-. ■ NEW ZEALAND DRAFTS ONLY Auckland merchants who have'been i importing goods from Australia hava ( been informed during the last few days by Commonwealth shippers that regulations issued in Australia on September 25 do not permit the payment for - exports by Australian funds. Payment must be by draft on New Zealand through the Commonwealth -Bank. ; , . The Australian regulations, provide that every person exporting goods must obtain a licence. Under this, any shipping documents, bills of exchange,-and other banking documents relating to the consignment will have to be delivered to the trading banks as agents for the Commonwealth Bank, which will 1 pay the consignor an amount of Australian currency equal to the value of the proceeds of overseas sales, v These conditions appear to preclude ■ the use of funds wpich some New Zealand merchants hajre built up in Australia as a result of the exchange shortage existing in New Zealand. The transfer of capital sums from Australia is also now being controlled as a war emergency measure. j;" •, •
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Bibliographic details
New Zealand Herald, Volume LXXVI, Issue 23470, 6 October 1939, Page 3
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174IMPORTS FROM AUSTRALIA New Zealand Herald, Volume LXXVI, Issue 23470, 6 October 1939, Page 3
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