New Zealand Legislation: Acts

11 Powers

• (1) [Repealed]

  (2) Public Trust may exercise its capacity or any of its rights, powers, and privileges for the purpose of—

  • (a) [Repealed]

  • (b) entering into any financial transaction or financial obligation intended to—

    • (i) avoid or lessen any present or possible future risk to Public Trust's current or future income or assets; or

    • (ii) lessen any liability of Public Trust; or

    • (iii) avoid or lessen any possible future liability of Public Trust; or

    • (iv) maximise Public Trust's current or future income (whether net or gross).

  (3) Subsection (2) does not limit sections 16 and 17 of the Crown Entities Act 2004.

  Subsection (1) was repealed, as from 25 January 2005, by section 200 Crown Entities Act 2004 (2004 No 115).

  Subsection (2) was amended, as from 25 January 2005, by section 200 Crown Entities Act 2004 (2004 No 115) by substituting the words “Public Trust may exercise its capacity or any of its rights, powers, and privileges” for the words “Public Trust is not to exercise its capacity or any of its rights, powers, and privileges except”.

  Subsection (2)(a) was repealed, as from 25 January 2005, by section 200 Crown Entities Act 2004 (2004 No 115).

  Subsection (3) was inserted, as from 25 January 2005, by section 200 Crown Entities Act 2004 (2004 No 115).