(1) For the purposes of paying salaries, wages, and such other expenditure as the Auditor-General may approve, the Council may, if it so resolves, establish and maintain any imprest account at a bank.
(2) Each imprest account shall be held jointly in the names of, and be operated by, 2 responsible persons to be appointed in that behalf by the Council, or, with the express approval in writing of the Auditor-General, shall be in the sole name of, and be operated by, the treasurer or other approved officer of the Council. At each ordinary meeting of the Council a statement of all payments from each imprest account that have not been approved by the Council at any previous meeting shall be submitted to the Council for its approval by that person or those persons in whose name or names the account stands.
(3) The Council shall from time to time by resolution fix the maximum amount not exceeding such amount as the Auditor-General may from time to time approve, to be held at any time in each imprest account.
(4) The payment of money out of any imprest account for any purpose not authorised under this section shall be deemed to be a misappropriation of the funds of the Council.
Section 27(1): amended, on 27 September 2001, by section 6 of the New Zealand Council for Educational Research Amendment Act 2001 (2001 No 74).
Section 27(1): amended, on 1 July 2001, pursuant to section 52 of the Public Audit Act 2001 (2001 No 10).
Section 27(2): amended, on 1 July 2001, pursuant to section 52 of the Public Audit Act 2001 (2001 No 10).
Section 27(3): amended, on 1 July 2001, pursuant to section 52 of the Public Audit Act 2001 (2001 No 10).