OVERSEAS REMITTANCES

Otago Daily Times, Issue 23688, 21 December 1938, Page 12

OVERSEAS REMITTANCES

PROCEDURE TO BE FOLLOWED ANNOUNCEMENT BY MINISTER APPLICATIONS FOR PERMITS (Per United Press Association) WELLINGTON, Dec. 20. In an interview to-day the Minister of Finance (Mr Walter Nash) stated that inquiries being made at his office and at the Treasury indicated that many people were still unaware of the procedure to be followed to obtain a permit to remit moneys overseas for their own expenses as tourists or travellers or for other legitimate purposes. Under the arrangements made any fterson desiring to remit moneys overseas for any purpose not involving the importation of goods should call at the branch of the trading bank normally used by him or, if he had no bank account at any branch of any bank, at the bank he would be asked to fill in an application form. Applications would be sent forward by the bank for approval and a permit for the approved amounts would be sent back to the branch of the bank through which the application was made. Since the first announcement was made, continued the Minister, it had been decided that applications for permits would be dealt with by the Reserve Bank and not by the Treasury, and the trading banks had been advised accordingly. If practicable, persons desirous of remitting moneys overseas should make application at least a month prior to the date on which the funds were required but, if the funds were urgently required, the banks would arrange for a prompt decision. It would again like to make it clear that reasonable requirements for tourists and travellers or for the maintenance or expenses of relatives abroad will be provided.