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1947 NEW ZEALAND

WAR ASSETS REALIZATION BOARD REPORT FOR YEAR ENDED 31st MAY, 1947

Presented to both Houses of the General Assembly by Command of His Excellency

Wellington, 30th June, 1947. The Eight Hon. the Minister of Finance. Sir, — I have the honour to submit the following report for the year ended 31st May, 1947. 1. Powers and Functions of Board The War Assets Eealization Board was set up to undertake the orderly disposal of all buildings, materials, equipment, and stores, whether situated in the Dominion or elsewhere, which are declared by the Services and Government Departments to be surplus to their requirements. 2. Composition of Board Experience has shown that the Board as originally constituted and added to from time to time—a total of fourteen members—was too cumbersome a body for the effective discharge of its functions. It was therefore recently decided to considerably reduce the size of the Board, and as now constituted it consists of three members only, as follows : Mr. F. E. Picot, Chairman. Mr. F. W. Furkert. Mr. W. N. Pharazyn.