Local Government Act 1993 No 30
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 Gazettes No 152 of 24.11.2000, p 12041; No 94 of 29.7.2005, p
3977; No 97 of 15.8.2008, p 7638 and No 160 of 24.12.2008, p
(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 or an entity within the meaning of that section is
not an investment for the purposes of this section.