The Management Committee has to open bank accounts to do its job. You need to know that the Committee decides how to use these accounts. The Committee also decides who can take money out of these accounts.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM367358.
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The Management Committee must open and maintain at a bank or banks such accounts as are necessary for the performance and exercise of its functions and powers.
The withdrawal of money from any such accounts must be authorised in such manner as the Management Committee thinks fit.
