RESERVE BANK.
Bill Passed by Legislative Council. NO AMENDMENT. ("Star” Parliamentary Reporter.) WELLINGTON. November 21. Without amendment the Reserve Bank of New Zealand Bill was passed this afternoon by the Legislative Council. The contentious clause relating to the appointment of a governor and a deputy governor contains no specific stipulation that the Government will have the final say. In the event of a deadlock it meflely authorises the Gover-nor-General to appoint those officers on the recommendation of the directorate. This is how the clause emerged from the Lower House in accordance with an undertaking given by Mr Coates in response to representations by a large number of Coalitionists, who urged that the governor should be a lifeappointment by the State. Whether the section as re-drafted by Mr Coates will meet the wishes of tne Coalition “ study circle ” remains to be seen. Mr Coates’s attitude is that the provision is sufficiently comprehensive, and that an arbitrary decis ; on by the Government to overcome the dispute would be automatic.
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https://paperspast.natlib.govt.nz/newspapers/TS19331121.2.154
Bibliographic details
Star (Christchurch), Volume LXIV, Issue 925, 21 November 1933, Page 9
Word Count
167RESERVE BANK. Star (Christchurch), Volume LXIV, Issue 925, 21 November 1933, Page 9
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