Local Government Act 1993 No 30
Part 13 Investments
625 How may councils invest?
(1) A council may invest money that is not, for the time being,
required by the council for any other purpose.
(2) Money may be invested only in a form of investment notified by
order of the Minister published in the Gazette.
note. See Gazette No 152 of 24.11.2000, p 12041.
(3) An order of the Minister notifying a form of investment for the
purposes of this section must not be made without the approval of the
(4) The acquisition, in accordance with section 358, of a controlling
interest in a corporation is not an investment for the purposes of this