New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) The Society may establish a fund for the purpose of providing pecuniary and other assistance to persons in need of such assistance who are or have at any time been members or employees of the Society, or to the dependants of any such person, or to the dependants of any such member or employee who is deceased.
(2) The fund shall consist of—
(a) Such part of its income as the Society decides from time to time to set aside for the purpose:
(b) Any donations, gifts, or bequests made to the Society for the purposes of the fund:
(c) The interest from time to time accruing from the investment of the fund:
(d) Any other money that may be lawfully paid into the fund.
(3) The fund shall be administered by the Council on behalf of the Society.
(4) All money in the fund may be invested in any manner in which trustees are for the time being authorised to invest trust funds.
(5) All money that, immediately before the commencement of this Act, was standing to the credit of, or was invested on behalf of, the fund established under section 115 of the Law Practitioners Act 1955 shall, on the commencement of this Act, be deemed to be standing to the credit of, or be invested on behalf of, a fund established under this section, and may be applied and dealt with accordingly.
Compare: 1955 No 101 s 115
