NOT BEFORE OCTOBER

Otago Daily Times, Issue 26852, 17 August 1948, Page 5

NOT BEFORE OCTOBER

PRIVY COUNCIL HEARING OF BANK CASE FEDERAL CABINET’S APPEAL CANBERRA, Aug. 14. The Privy Council, -which is at present on vacation, is unlikely to hear the Federal Cabinet’s appeal against the High Court’s banking decision before October. However, both Governments and banks are already planning to send counsel to England by air, and to retain counsel in England for the big legal battle which will develop. The acting ganeral manager of the Bank of New South Wales, Mr S. J. Gandon, said the trading banks would continue their fight against nationalisation by every legal means in their power. Legal authorities spid that both from Mr Chifiey’s statement and from a study of the judgments, it appeared that the Commonwealth’s main intention was to appeal against the limitations a majority of the High Court considered Section 92 placed on Commonwealth legislation on banking. Possibly the Commonwealth may seek to upset also the majority High Court decision that sections of the Act did not ensure “ just terms ” to private banks if taken over.

The legal view is that the Government could, if it wishes, make amendments to the Act at the same time as it prosecuted its appeal to the Privy Council.