A NEW BANK.
TO OPEN IN DOMINION. Tho Commercial Bank of Australia! Ltd;, an institution which lias its headquarters iu Melbourne, intends to open branches shortly in New Zcalaud. No public announcement of its intentions has yet been mude on behalf of tho bank, but the statement that it intends bo opeii in New Zealand is confirmed locally oil unimpeachable authority. It is understood that one of tho principal officers of the bank was in Now Zealand until last week making necessary preliminary arrangements for the opening of brauches, and that he left on his return to Austvar lia on Friday last.
There is nothing in tlio existing Now Zealand law to prevent any bank established outside New Zealand registering branches in the Dominion and carrying on all the business of a bank oroept the issue of notes. _ Before issuing notes a, bank must obtain legislative sanction by getting Parliament to put through a private Bill.
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https://paperspast.natlib.govt.nz/newspapers/DOM19120902.2.28
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Dominion, Volume 5, Issue 1534, 2 September 1912, Page 4
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156A NEW BANK. Dominion, Volume 5, Issue 1534, 2 September 1912, Page 4
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