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United Future |
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| 06 Aug 2003 | Press release |
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Copeland: Credit unions, building societies ‘bank’ on UF In supporting the second reading of the Reserve Bank of New Zealand Amendment Bill, United Future’s Gordon Copeland said the trademark rights of building societies and credit unions would now be protected.“Originally the bill would have denied such institutions the use of the terms ‘bank, ‘banking’ and ‘banker’ – but as United Future successfully argued during the select committee process, this would have been to do serious damage to a responsible and valuable part of the country’s financial sector,” Mr Copeland, the party’s finance spokesman, said.“These terms have and do form a legitimate part of the trademarks and branding of a number of building societies and credit unions – and quite legitimately. “Robbing them of these terms – which are effectively private property – would have meant that full and fair financial compensation would have been required. And really it was all quite unnecessary,” he said. Ends. Mark Stewart Press Secretary Tel: 027 293 4314 |
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