New Zealand Legislation: Regulations

12 Requirements relating to recovery of grants made to grant recipients

• A licence holder must use its best endeavours to obtain the return of money distributed to a grant recipient if the licence holder has information that the grant recipient—

  • (a) has received funding from another source for the same specific purpose as the purpose for which the money was distributed; or

  • (b) has not used the money for the specific purpose for which it was distributed.