New Zealand Legislation: Acts

30 Income and capital of Group Investment Fund

• The trustee company which establishes a Group Investment Fund shall—

  • (a) pay or allocate the income from that Fund proportionately to or among the trust estates and persons entitled to the amounts invested in the Fund according to the amounts of their several interests in the Fund and the period for which they remain invested in the Fund:

  • (b) hold the capital of the Fund proportionately for the trust estates and persons entitled to the amounts invested in the Fund according to the amounts of their several interests in the Fund.

  Compare: 1960 No 98 s 4