RESERVE BANK BILL.
AMENDMENTS BEFORE COUNCIL. (By Telegraph.—Press Association.) WELLINGTON, Thursday. Two amendments made in the House of Representatives are contained in the Reserve Bank Bill as it was Introduced into the Legislative Council this afternoon. The clause providing for the appointment of the governor and deputygovernor of the bank, now reads as follows: —“On expiry of the term of office of the first governor and deputy-governor respectively, or on vacation of their office by death or resignation or otherwise before the time fixed for expiry of such term, and thereafter from time to time as occasion may require, the governor and deputy-governor shall be appointed by the Governor-General-in-Council on the recommendation of the board of directors, each such officer to hold office, subject to the provisions of this Act, for a term of seven years.” I’he other change is made in the first schedule of the bill which states that “any transfer of shares except to a British subject who is ordinarily resident in New Zealand, or who, having been so resident, is at the time of transfer temporarily out .of New Zealand,” must be declined by the Bank.
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Waikato Times, Volume 114, Issue 19100, 10 November 1933, Page 7
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190RESERVE BANK BILL. Waikato Times, Volume 114, Issue 19100, 10 November 1933, Page 7
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