New Zealand Legislation: Acts

18 Board must operate in financially responsible manner

• The Board must operate in a financially responsible manner and, for this purpose, must—

  • (a) endeavour to maintain its long-term financial viability; and

  • (b) endeavour to cover all its annual costs (including the cost of capital) from its net annual income; and

  • (c) endeavour to act as a successful going concern; and

  • (d) prudently manage its assets and liabilities.