B—ls

1950 NEW ZEALAND

BANK OF NEW ZEALAND ANNUAL REPORT OF THE BOARD OF DIRECTORS FOR THE YEAR ENDED 31st MARCH, 1950, AND BALANCE-SHEET AT THE 31st MARCH, 1950

Presented to Both Houses of the General Assembly Pursuant to Section 15 of the Bank of New Zealand Act, 1945, and Section 24 of the Bank of New Zealand and Banking Amendment Act, 1898

To the Right Hon. the Minister of Finance. The Board of Directors presents hereunder the report on the operations of the Bank of New Zealand during the financial year ended 31st March, 1950, in accordance with section 15 of the Bank of New Zealand Act, 1945.