(1) Section 5(1) is amended by repealing the definition of community outcomes and substituting the following definition:
“community outcomes means the outcomes that a local authority aims to achieve in order to promote the social, economic, environmental, and cultural well-being of its district or region, in the present and for the future”.
(2) Section 5(1) is amended by inserting the following definitions in their appropriate alphabetical order:
“equity security has the meaning given to it in section 2 of the Securities Act 1978“natural hazard has the meaning given to it in section 2(1) of the Resource Management Act 1991“reserve fund means money set aside by a local authority for a specific purpose”.
“equity security has the meaning given to it in section 2 of the Securities Act 1978
“natural hazard has the meaning given to it in section 2(1) of the Resource Management Act 1991
“reserve fund means money set aside by a local authority for a specific purpose”.