New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) In the exercise of its power to do any of the things specified in section 17(2)(b) of this Act, the Commission may—
(a) Make advances, with or without security, at such rates of interest as it determines or free of interest; and
(b) Guarantee, with or without security, advances made by any person to any other person or persons; and
(c) Establish any endowments or create any trusts on such terms and conditions, and for such objects within the purposes of this Act, as the Commission thinks fit, and appoint trustees in respect of any such endowments or trusts.
(2) Any trustees appointed in respect of a trust established under subsection (1) of this section shall keep accounts in such manner as may be directed by the Commission and approved by the Audit Office.
This Act was repealed as from 1 January 2003, by section 63 Sport and Recreation New Zealand Act 2002 (2002 No 38).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).
