(1) The Registrar shall take and receive the fees prescribed by regulations made under this Act as payable to the Board in respect of the matters specified in the regulations.
(2) Until the prescribed fee has been paid the Registrar may decline to do any act, or to permit any act to be done, or to receive any document in respect of which that fee is payable.
(3) All fees, monetary penalties, and other moneys received on behalf of the Board under this Act shall be forthwith paid into such person carrying on in New Zealand the business of banking as the Board may determine to the credit of an account to be called the Valuers Registration Board Account, and may be applied by the Board as follows:
(3A) The Board may from time to time compile and publish any land valuation data that in its opinion will be of benefit to the profession of land valuation, and may incur expenditure and make charges in relation thereto.
(4) All cheques drawn on the Valuers Registration Board Account shall be signed, and all negotiable and other instruments requiring endorsement shall be endorsed, by any 2 of such members of the Board as are nominated for the purpose or by one such member and the Registrar:
provided that cheques for payment into the Valuers Registration Board Account may be endorsed by any one of such members of the Board as aforesaid alone or by the Registrar alone.
(5) No cheque shall be drawn on the Valuers Registration Board Account, and no moneys of the Board shall be expended except pursuant to a resolution of the Board approving the payment and the amount thereof, but no banker or other person to whom a cheque duly signed as aforesaid is presented shall be concerned to inquire whether any such resolution has been passed.
(6) The accounts of the Board shall comprise a statement of financial position showing the financial position of the Board at 31 December in every year, together with a statement of income and expenditure and an itemised cash summary both covering the year ended on that date.
(7) The Board may from time to time, as it thinks fit, invest any moneys not for the time being required for any of the purposes mentioned in the last preceding subsection by depositing them with any bank or other institution authorised to receive moneys on deposit.
(8) The Board is a public entity as defined in section 4 of the Public Audit Act 2001 and, in accordance with that Act, the Auditor-General is its auditor.
Section 37(3): amended, on 30 June 1995, pursuant to section 2(2) of the Banking Act Repeal Act 1995 (1995 No 32).
Section 37(3)(bb): inserted, on 24 September 1959, by section 3 of the Valuers Amendment Act 1959 (1959 No 7).
Section 37(3A): inserted, on 13 December 1968, by section 3 of the Valuers Amendment Act 1968 (1968 No 115).
Section 37(6): amended, on 1 October 1997, pursuant to section 6(1) of the Financial Reporting Amendment Act 1997 (1997 No 17).
Section 37(7): amended, on 1 April 1987, by section 11(1) of the State-Owned Enterprises Amendment Act 1987 (1987 No 117).
Section 37(8): replaced, on 1 July 2001, by section 53 of the Public Audit Act 2001 (2001 No 10).