Part 3Institutions
New Zealand Lottery Grants Board: Financial provisions relating to Board and distribution committees
287Investment of money
Subject to any directions of the Board, the Secretary may invest any profits of New Zealand lotteries in accordance with the Trusts Act 2019, pending their distribution under section 277.
Any amounts of interest arising from the investments, and the proceeds of any realisation of the investments, are deemed to be profits arising from New Zealand lotteries and must be dealt with accordingly.
Compare
- 1977 No 84 s 116V
Notes
- Section 287(1): amended, on , by section 161 of the Trusts Act 2019 (2019 No 38).