New Zealand Legislation: Acts

28 Shares in bodies corporate or interests in associations

• (1) Except with the consent of the Minister or in accordance with regulations made under this Act, no DHB may—

  • (a) hold any shares or interests in a body corporate or in a partnership, joint venture, or other association of persons; or

  • (b) settle, or be or appoint a trustee of, a trust.

  (2) The Minister's consent under subsection (1) may be given subject to any conditions the Minister specifies.

  (3) Conditions specified by the Minister under subsection (2) must be consistent with section 97 of the Crown Entities Act 2004.

  (4) Sections 96 and 100 of the Crown Entities Act 2004 do not apply to DHBs.

  (5) Section 161 of the Crown Entities Act 2004 applies to DHBs except in relation to acquisition of securities that are covered by this section.

  Subsections (3) to (5) were inserted, as from 25 January 2005, by section 200 Crown Entities Act 2004 (2004 No 115).