BANKING ACT FOUND INVALID
(N.Z.P.A.—1
leuter
/ Australian High Court's Decisioii Climax To Poliiiea! And Legal Battle
CovyriQht)
Received Wednesday, 1.15 p.m. SYDNEY, August 11. The High Court has declared the Banking Act invalid. The judgment is the climax of a political and legal battle which has been raging since August 1-8 of last year, when the Prime Miriister, Mr. Chifley, announced the Government's intention to nationalise all private banks. A Bill providing for the nationalisation of banks was introduced in the House of Representatives on Oetober 16 and after a week's debate was passed through Parliament. Then the legal battle began. The States of Victoria, South Australia and West Australia, and eleven private banks, applied to the High Court on November 20 for an injunction restraining the Government from implementmg the Bill. The hearing* was taken by a full bench of six Judges. An appeal to the Privy ( ouncil appears almost certain, and this appeal is'unlikely to be heard before theend of the year.
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https://paperspast.natlib.govt.nz/newspapers/CHRONL19480811.2.20
Bibliographic details
Chronicle (Levin), 11 August 1948, Page 5
Word Count
164BANKING ACT FOUND INVALID Chronicle (Levin), 11 August 1948, Page 5
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