TEST CASE
DECISION OF POWER BOARD. TO SIDESLIP EXCHANGE RATE. (Per Press Association Copyright.) INVERCARGILL, June 13. The Southland Electric Power Board to-day decided to undertake a test case in the King’s Bench Division, London, to ascertain whether it-can make interest payments on its London loans, in New Zealand currency. Jn the event of the Board succeeding, it will be freed from the expense of the present exchange rate of 2o per cent. The legality of such action had been considered by the Board previously, and it was at the request of the Minister of Finance that the decision to undertake the case was reached. It is understood that Sir Gerald Hurst, Iv. C.. will represent, the Board.
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Hokitika Guardian, 14 June 1933, Page 5
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118TEST CASE Hokitika Guardian, 14 June 1933, Page 5
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