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Venture Capital Fund Act 2019

Establishment of Venture Capital Fund

10: Property of VCF

You could also call this:

"What belongs to the Venture Capital Fund"

Illustration for Venture Capital Fund Act 2019

The Venture Capital Fund, or VCF, is made up of money the Crown pays into it under section 13 or in other ways. You also have money from VCF investments and money earned from those investments. The VCF can have other money paid into it if it is allowed by law. The VCF is part of the Crown, not a separate entity. The VCF's money is not considered public money under the Public Finance Act 1989.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS210801.

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9: Purpose of VCF, or

"Helping New Zealand's economy grow by investing in new businesses"

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11: Ownership of VCF, or

"The government of New Zealand owns the Venture Capital Fund."

10Property of VCF

  1. The VCF consists of—

  2. money paid into the VCF by the Crown under section 13 or otherwise:
    1. VCF investments:
      1. money accruing from the investment of the VCF:
        1. any other money that may be lawfully payable into the VCF.

          1. The VCF is not an entity separate from the Crown.

          2. However, subsection (2) does not limit section 39(2) or 40(1).

          3. VCF money is not public money for the purpose of the Public Finance Act 1989.

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