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Local Government Act 1993 No 30
Current version for 25 June 2019 to date (accessed 18 October 2019 at 22:16)
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.