Local Government Act 1993 No 30
Current version for 14 May 2020 to date (accessed 5 June 2020 at 23:22)
Chapter 15 Part 13 Section 625
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.
Editorial 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 13140.
(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 Treasurer.
(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.