Plain language law

New Zealand law explained for everyone

Gambling Act 2003

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

261: Loans

You could also call this:

"The Lotteries Commission can lend money to people or companies to help with New Zealand lotteries."

Illustration for Gambling Act 2003

The Lotteries Commission can help with New Zealand lotteries by lending money to people or companies. You can get a loan with or without something to secure it, and you might have to pay interest on the loan. The Commission can also promise to pay back a loan if someone else lends money to a person or company, and this promise can be made with or without something to secure it.

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 It might be out of date or be missing some parts.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=DLM209769.

Topics:
Money and consumer rights > Gambling
Previous

260: Borrowing powers, or

"The Lotteries Commission can no longer borrow money."

Next

262: Investment of funds, or

"The Lotteries Commission must invest its money wisely, following New Zealand's trust rules."

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

261Loans

  1. The Lotteries Commission may, for the purpose of assisting in the promotion, organisation, and conduct of New Zealand lotteries, or for other purposes that the Minister approves,—

  2. make advances to any person or body corporate, with or without security, at the rates of interest that it determines or free of interest:
    1. guarantee to any person or body corporate, with or without security, advances made by any person or body corporate.

      Compare
      • 1977 No 84 s 110