TRUST FUNDS. IMPORTANT RECOMMENDATIONS.
Wellington, this clay. The following resolutions, passed by the Public Accounts Committee, are to be considered by the House to-day :—: — 1, That the power ot investing the moneys belonging to the Post Office Savings Bank shall bo placed in the hands of a Board, and that the Government be requested to bring in a Bill this session to give effect to this resolution. 2. That in the opinion of tho Committee no loan should be made out of the trust funds, the post office savings bank fund?, or the public debt sinking funds upon any other than securities of the colony of New Zealand, or by way of loan under the Loans to Local Bodies A.ct, or upon bank deposits ; and that there shall always be at least one-third of the amount to the credit of the Post Office Savines Bank account invested in New Zealand Government securities, the interest on which is payable in London, and that such securities be deposited in London to be used in case of any possible financial emergency in the colony.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/TAN18890904.2.19
Bibliographic details
Ngā taipitopito pukapuka
Te Aroha News, Volume VII, Issue 399, 4 September 1889, Page 5
Word count
Tapeke kupu
181TRUST FUNDS. IMPORTANT RECOMMENDATIONS. Te Aroha News, Volume VII, Issue 399, 4 September 1889, Page 5
Using this item
Te whakamahi i tēnei tūemi
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Log in