202 Application of money

The money of an institution shall be applied only—


in payment or discharge of the expenses, charges, obligations or liabilities incurred or undertaken by or on behalf of the institution; or




in payment of any remuneration or allowances payable to members of the council or of committees of the council or to the chief executive or members of the staff of the institution; or


in making any other payments that are required or permitted by this Act or any other enactment to be made out of the money of the institution.

Section 202: inserted, on 1 January 1991, by section 37 of the Education Amendment Act 1990 (1990 No 60).

Section 202(b): repealed, on 1 January 2003, by section 45(2)(a) of the Education (Tertiary Reform) Amendment Act 2002 (2002 No 50).

Section 202(c): repealed, on 1 February 2011, by section 18 of the Research, Science, and Technology Act 2010 (2010 No 131).