New Zealand Legislation: Acts

25 Payment to and withdrawal from bank accounts

• (1) All money belonging to the Commission, within 7 days after its receipt by the Commission or by an officer or employee of the Commission, shall be paid into the appropriate account at such bank as the Commission from time to time appoints.

  (2) No money shall be paid out of any bank account of the Commission except with the authority, and in accordance with any general or special directions, of the Commission.

  (3) A bank account of the Commission may only be operated on by cheque or other instrument (not being a promissory note or a bill) signed by an officer of the Commission authorised by the Commission to sign cheques or other instruments drawn on that account, and countersigned by a member of the Commission or other person authorised by the Commission to countersign such cheques or other instruments.

  This Act was repealed as from 1 January 2003, by section 63 Sport and Recreation New Zealand Act 2002 (2002 No 38). See clause 2 Sport and Recreation New Zealand Act Commencement Order 2002 (SR 2002/376).