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Crown Entities Act 2004

Crown entity reporting and financial obligations - Other provisions for financial accountability - Miscellaneous

167: Gifts

You could also call this:

"Crown entities can accept or refuse gifts of money or property"

Illustration for Crown Entities Act 2004

If someone gives a Crown entity money or property, the Crown entity can choose to accept it or not. The Crown entity does not have to follow all the usual rules about what it can own when it gets a gift, but only for a reasonable amount of time. You can think of a reasonable amount of time as long enough to figure out what to do with the gift.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM330573.

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Part 4Crown entity reporting and financial obligations
Other provisions for financial accountability: Miscellaneous

167Gifts

  1. Any money or property that is gifted to a Crown entity may be accepted or disclaimed by a Crown entity.

  2. The limitations in this Act (such as the limitations on the form in which property may be held) do not apply to gifted property during a period that is reasonable in the circumstances.