304 Application of money

The money of an institution may be applied only—

(a)

in payment or discharge of the expenses, charges, obligations, or liabilities incurred or undertaken by or on behalf of the institution; or

(b)

in payment of any remuneration or allowances payable to council members or council committees or to the chief executive or members of the staff of the institution; or

(c)

in making any other payments that are required or permitted by this Act or any other enactment to be made out of the money of the institution.

Compare: 1989 No 80 s 202