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Plumbers, Gasfitters, and Drainlayers Act 2006

Administration, appeals, and miscellaneous provisions - Plumbers, Gasfitters, and Drainlayers Board

146: Application of money received by Board

You could also call this:

"How the Plumbers, Gasfitters, and Drainlayers Board uses its money"

Illustration for Plumbers, Gasfitters, and Drainlayers Act 2006

You need to know how the Plumbers, Gasfitters, and Drainlayers Board uses the money it receives. The Board must put all the money it gets into a bank account it chooses. The money is used to pay for things the Board needs to do its job. The Board can use the money to pay its members, officers, employees, and agents, including those mentioned in section 147. It can also pay into a superannuation fund for its employees, as allowed by the National Provident Fund Restructuring Act 1990. The Board can help people learn the plumbing, gasfitting, or drainlaying trades by contributing to their education or training. The Board can invest any extra money it has, following the rules of the Trusts Act 2019. You should be aware that the Board must keep track of all the money it receives and spends. The Board must also check every payment it makes to ensure it is correct, unless it has already agreed to the payment. The Board's use of money is also subject to section 131. The Board must follow these rules when using its money. It is important for the Board to use its money wisely.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM397752.

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Part 4Administration, appeals, and miscellaneous provisions
Plumbers, Gasfitters, and Drainlayers Board

146Application of money received by Board

  1. All money paid to the Board must be paid into a bank account as determined by the Board.

  2. The money may be applied only to the payment of any expenditure, costs, or expenses incurred by the Board in the performance of its functions and duties or the exercise of its powers, including—

  3. the payment of remuneration and travelling allowances and expenses to its members, officers, employees, and agents (including any person referred to in section 147):
    1. the payment of contributions to the global asset trust under the National Provident Fund Restructuring Act 1990, or to any other superannuation fund or scheme established, with the approval of the Minister of Finance, for the purpose of providing superannuation or retiring allowances for the Board’s employees:
      1. contributing towards the cost of educating or training any person wishing to enter the sanitary plumbing, gasfitting, or drainlaying trades, and providing scholarships or bursaries and making donations for that purpose.

        1. The Board may invest any money for the time being not required for any of the purposes referred to in subsection (2) in accordance with the Trusts Act 2019.

        2. The Board must keep full and true accounts of all money received and expended by it.

        3. Every payment of money on behalf of the Board must, unless authorised by a prior resolution of the Board, be submitted to the Board for confirmation at its first ordinary meeting after the date of payment.

        4. This section is subject to section 131.

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        Notes
        • Section 146(3): amended, on , by section 161 of the Trusts Act 2019 (2019 No 38).