The Secretary, Department of the Treasury, has forwarded the following for advice:
I append for your information a copy of a letter of 7th October, addressed by the Chairman of the Commonwealth Bank Board to the Treasurer, and have to ask that you will kindly favour the Treasury with your early advice on this matter:
In the past the Board has not been concerned with the effect of State legislation as it has been tacitly accepted in almost all quarters that the Commonwealth Bank is a Government Instrumentality and hence not affected.