IMPORTED GOODS

Otago Daily Times, Issue 23882, 9 August 1939, Page 7

IMPORTED GOODS

WTHORITJES FOR EXCHANGE THE BANKING PROCEDURE EXPLANATORY STATEMENT (Per United Press Association) WELLINGTON, Aug. 8. As the result of inquiries in banking circles the following particulars were made available to-day for the information of those ini porters who have not yet consulted their bankers as to the procedure to be followed in filling in applications for exchange authorities:— (1/ Except in special circunv stance? only one application 'orm should be submitted by each applicant irrespective of the number of import licences he holds. The application should not include a request for funds on account of prospective imports for which licences have not been received at the date of application. (2) In stating the month or months during which payment overseas is desired importers are requested to do so to the best of their knowledge at the time of the application. Where it is subsequently found that an importer does not require the use of the full amount in the month or months approved by the Reserve Bank the amount can be carried forward by arrangement between the importer and his banker.

(3) As to the month or months during which goods are expected to arrive the applicant is requested to provide information to the best of his ability. (4) In making a statement regarding their existing stocks of commodities in respect of which an aDplication for remittance is made, importers are requested to supply the most accurate information at their disposal. Where an application covers a range of commodities of "which the existing stocks vary, the phrase "varying from (gay) three to (say) six months" would meet the case. Any further explanation necessary should be supplied in the space provided for ""general remarks." (5) Any particulars for which there is .insufficient space on the form should be scheduled on the reverse side.

It is pointed out in the case of importers who have not yet submitted applications'that some time has now elapsed since the final date fixed by the Reserve Bank (August 2) for the lodgment of applications and further delay must have the effect of postponing the date on which their exchange authorities can be granted. SECOND PERIOD LICENCES EXTENSION OF ARRIVAL DATES TRADING DIFFICULTIES (From Our Parliamentary Reporter* WELLINGTON, Aug. 8. The Government has decided to allow the importation up to June 30 next of goods covered by import licences in. respect .o| the second licensing period—July to December of this year. This announcement was made to-day by the ActingMinister of Customs (Mr H. G. R. Mason),, "In coming to this decision," the Minister said, " the Government has had consideration for the fact that in certain cases, particularly where goods are manufactured to order and in addition some weeks are occupied in the course of shipment to New Zealand, difficulty will be experienced by importers in arranging for the goods to arrive by the end of the year." Representations had already been received, he added, from some importers of United Kingdom goods in regard to this matter. He had no doubt that in many other cases importers were urging suppliers overseas to make every endeavour to ship goods in order that they might arrive within the period of licence, hoping that this could be arranged. Doubtless, the indefiniteness in that connection was troublesome to importers and the Minister said he expected, therefore, that the present decision to extend the period of licence would prove of material assistance.