Colonial Bank of Issue
Encyclopedia
The Colonial Bank of Issue was a New Zealand state owned bank that operated between 1847 and 1856 in an early unsuccessful attempt to create a government-owned issuer of bank notes in New Zealand. The bank was created by an Ordinance
of the Governor of New Zealand Governor FitzRoy.
Pressure from the newly formed Colonial Parliament, the Union Bank of Australasia
, and the local commercial sector, along with views developed in the Colonial Office in the United Kingdom to allow experimentation on competition in the issue of banknotes, led to the bank being wound up by the New Zealand Colonial Bank of Issue Winding-Up Act 1856.
Decree
A decree is a rule of law issued by a head of state , according to certain procedures . It has the force of law...
of the Governor of New Zealand Governor FitzRoy.
Pressure from the newly formed Colonial Parliament, the Union Bank of Australasia
ANZ New Zealand
ANZ New Zealand is New Zealand’s largest financial services group and is a subsidiary of Australia and New Zealand Banking Group Limited of Australia. ANZ New Zealand operates under its legal entity ANZ National Bank Limited which was formed as part of the 2003 merger of ANZ and The National Bank...
, and the local commercial sector, along with views developed in the Colonial Office in the United Kingdom to allow experimentation on competition in the issue of banknotes, led to the bank being wound up by the New Zealand Colonial Bank of Issue Winding-Up Act 1856.