Plain language law

New Zealand law explained for everyone

Gambling Act 2003

Institutions - New Zealand Lotteries Commission - Financial provisions relating to Lotteries Commission

259: Estimates of income and expenditure

You could also call this:

"The Lotteries Commission must plan how it will earn and spend money each year."

The Lotteries Commission has to make a plan for how much money it will get and spend in the next financial year. You can think of this plan like a budget for your pocket money, but for a big organisation. The Commission must give this plan to the Minister before 1 June every year.

The Minister then looks at the plan and decides if it is okay as it is, or if the Commission needs to make some changes. If the Minister wants changes, the Commission must make them before the plan is approved.

The Commission can only spend money if it is in the approved plan, unless the Minister says it is okay to do something different. The Commission also has to give some information to the Secretary for Internal Affairs so they can do their job, which includes following section 276(1).

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM209766.

Topics:
Money and consumer rights > GamblingGovernment and voting > Government departments
Previous

258: Bank accounts, or

"Old bank account law is no longer used, it was stopped in 2005."

Next

260: Borrowing powers, or

"The Lotteries Commission can no longer borrow money."

Part 3Institutions
New Zealand Lotteries Commission: Financial provisions relating to Lotteries Commission

259Estimates of income and expenditure

  1. The Lotteries Commission must, before 1 June in each financial year, prepare and submit to the Minister an estimate of the Commission’s income and expenditure for the next financial year.

  2. The estimate must be approved by the Minister either—

  3. as submitted by the Lotteries Commission; or
    1. after it has been amended by the Commission in a manner required by the Minister.

      1. All expenditure by the Lotteries Commission in any financial year must be in accordance with the approved estimate for that year, unless the Minister expressly approves otherwise.

      2. The Commission must also promptly supply to the Secretary for Internal Affairs the information needed by the Secretary to enable him or her to comply with section 276(1).

      Compare
      • 1977 No 84 s 108