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Patriotic and Canteen Funds Amendment Act 1967

Public Act		1967 No 107
Date of assent		23 November 1967

	Title
1	Short Title
2	Meaning of “serviceman”
3	Investment of money
	Administrative information

An Act to amend the Patriotic and Canteen Funds Act 1947

BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:

1 Short Title

This Act may be cited as the Patriotic and Canteen Funds Amendment Act 1967, and shall be read together with and deemed part of the Patriotic and Canteen Funds Act 1947 (hereinafter referred to as the principal Act).

2 Meaning of “serviceman”

Section 2 of the principal Act is hereby amended by adding to paragraph (c) of the definition of the term “serviceman” (as substituted by section 2(1) of the Patriotic and Canteen Funds Amendment Act 1956) the words “If any question arises as to whether service rendered as aforesaid was rendered during an emergency for the purposes of this paragraph, that question shall be decided by the Minister on the joint application of the New Zealand Patriotic Fund Board and the Canteen Fund Board.”

3 Investment of money

Section 38 of the principal Act is hereby amended by repealing subsection (3), and substituting the following subsection:

“(3)

Subject to the terms of any trust or endowment affecting the same, all money belonging to any Fund and not immediately required for expenditure by the Board or Council concerned may from time to time—

“(a)

Be invested in such securities (being securities in which, for the time being, trust money may lawfully be invested under the provisions of the Trustee Act 1956) in such manner and for such periods as the Board or Council may decide; or

“(b)

Be applied in the purchase of any estate or interest in land to be held as an investment, and the improvement and development of any such land, including the erection, improvement, alteration, or extension of buildings on the land; or

“(c)

Be invested in such other manner as the Board or Council, with the approval of the Minister, may decide.”

This Act is administered in the Department of Internal Affairs.

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Patriotic and Canteen Funds Amendment Act 1967