HOLDERS PROTECTED.
Legality of Trading Bank Notes. (Special to the "Star.”* WELLINGTON, January 9. A reminder given by Mr Dawson, general manager of the Bank of New Zealand. that notes of New Zealand trading banks cease to be legal tender after Thursday, while correct, appears to have caused some concern for fear that holders of these notes will be unable to realise upon them. The question was put to a high officer of the Treasury, who gave the reassuring reply that no practical difficulty should be experienced by those holding trading bank notes after tomorrow. They certainly cease to be legal tender, because the last proclamation declaring trading bank notes to be legaj tender in the Dominion then exoires. Holders of such notes should present them to the trading banks. They were amply protected against loss by a provision in Section 15 of the Reserve Bank Act that such notes shall be redeemed by the issue of equivalent value in Reserve Bank notes.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/TS19350110.2.177
Bibliographic details
Star (Christchurch), Volume LXVI, Issue 20509, 10 January 1935, Page 16
Word Count
163HOLDERS PROTECTED. Star (Christchurch), Volume LXVI, Issue 20509, 10 January 1935, Page 16
Using This Item
Star Media Company Ltd is the copyright owner for the Star (Christchurch). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Star Media. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.