New Zealand Legislation: Acts

323 Advances from fidelity fund for purposes of this Part

• Without limiting the generality of sections 311(1)(e) and 320 to 322, a regulatory society may, from time to time, in its discretion, for the purpose of meeting any deficit in a practitioner's trust account, or reimbursing any client of the practitioner, or protecting the fund, or otherwise for the purpose of giving full effect to the intent of this Part, make advances from the fidelity fund held by it under this Part to any person or persons, on and subject to such terms and conditions, whether as to the method of repayment or the payment of interest or the giving of any securities, as it thinks fit.

  Compare: 1982 No 123 s 170