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Plumbers, Gasfitters, and Drainlayers Act 2006

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

160: Power to borrow money

You could also call this:

"The Board can borrow money to do its job and use its property to guarantee repayment"

Illustration for Plumbers, Gasfitters, and Drainlayers Act 2006

The Board can borrow money for its purposes. You can think of the Board like a group that needs money to do its job. The Board can also use its property to guarantee the money it borrows. The Board has the power to mortgage, charge, or pledge its property to secure the borrowed money. This means the Board can use its assets to ensure it can pay back the money it borrows, and you can find similar information in the 1986 legislation https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM439411

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM397768.

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

160Power to borrow money

  1. The Board may—

  2. borrow money required for any of the purposes of the Board; and
    1. for the purpose of securing any money borrowed, mortgage, charge, or pledge any right, title, estate, or interest in any real or personal property vested in the Board.

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