New Zealand Legislation: Acts
Acts are laws made by Parliament
Subject to the terms of any trust or endowment, any money held by or on behalf of the Commission and available for investment shall be invested in accordance with the provisions of the Trustee Act 1956 as to the investment of trust funds:
Provided that, notwithstanding any rule of law or equity to the contrary, the Commission shall not be obliged to convert any property which is the subject of a gift to the Commission and which is not property in which the Commission may properly invest money pursuant to this section.
This Act was repealed as from 1 January 2003, by section 63 Sport and Recreation New Zealand Act 2002 (2002 No 38).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).
Section 29 was substituted, as from 1 May 1988, by section 14(1) Trustee Amendment Act 1988 (1988 No 90).