THE RESERVE BANK
LIMITATION OF SHAREHOLDING PROVISION OF SAFEGUARDS (From Oub Parliamentary Reporter.) . WELLINGTON. November I Members showed much concern in tue House to-night during the committee discussion on the Reserve Bank Bill that (he shares should be carefully safeguarded from falling into undesirable hands. The Minister of Finance (Mr Coates) agrn-d to consider favourably an amendment proposed by Mr Wright restricting the holding of shares to British subjects resident in New Zealand. Mr Coates said that several members had discussed this proposal very closely with him, and he knew it was desirable that the shareholding should be kepi as strictly as possible to New Zealanders. Several other points had been raised about the transfer of shares, and he would endeavour to see if a clause could be drafted covering the position generally. So far as he could he would give effect to what appeared to be the general wish of the House. He had noted the points raised by various members, not to “ keep them steadily in view,” but to come back to them later on.
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Otago Daily Times, Issue 22100, 2 November 1933, Page 10
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177THE RESERVE BANK Otago Daily Times, Issue 22100, 2 November 1933, Page 10
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