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Gambling Act 2003

Institutions - New Zealand Lottery Grants Board - Applications for grants

284: Subsidies and loans

You could also call this:

"Helping with money: subsidies, loans, and grants from lottery funds"

When you apply for a grant, a distribution committee can do some extra things. They can approve subsidies, which are like payments to help people. They can also approve loans to local authorities, like councils, or to organisations that the Board says are okay. The committee decides the interest rate for the loan, or if it's free. They can also change or cancel a subsidy or loan they already approved, or increase the amount.

If the committee approves something, the Secretary has to make it happen. This means paying subsidies, making loans, or doing anything else needed. The committee can set conditions for their approvals, which means they can say what the subsidy or loan must be used for.

A distribution committee can also set up a trust or endowment, which is like a special fund for a specific purpose. They can choose who manages the trust. If someone pays back a loan with interest, that money is considered profit from New Zealand lotteries and must be handled as such.

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Money and consumer rights > GamblingGovernment and voting > Local councils
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"How grants are paid out and their rules"

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Part 3Institutions
New Zealand Lottery Grants Board: Applications for grants

284Subsidies and loans

  1. Subject to any general directions of the Board or any specific restrictions imposed by it, a distribution committee may, in addition to approving grants under section 282, approve—

  2. the payment of subsidies; or
    1. the making of loans, with or without security and at the rates of interest or free of interest that the committee determines, to—
      1. local authorities within the meaning of the Local Government Act 2002 (subject to the provisions of that Act as to loans); or
        1. organisations of a kind approved for the time being by the Board; or
        2. the variation, cancellation, or discharge of any subsidy or loan previously approved under this subsection, or the increase of the amount of any such subsidy or loan.

          1. On being notified of an approval under subsection (1), the Secretary must, in accordance with the terms of the approval,—

          2. pay any subsidy referred to in the approval:
            1. make any loan referred to in the approval:
              1. do any other thing necessary to give effect to the approval.

                1. An approval given under this section may be made subject to any terms and conditions that the distribution committee thinks fit.

                2. For the purposes of this section, a distribution committee may—

                3. establish any endowment or create any trust upon any terms and conditions, and having the objects, that the committee thinks fit; and
                  1. appoint trustees for the purpose.

                    1. All amounts of interest paid in respect of loans made under this section, and money received in repayment of the loans, are deemed to be profits arising from New Zealand lotteries, and must be dealt with accordingly.

                    Compare
                    • 1977 No 84 s 116S