You have to follow rules about investing the Venture Capital Fund. The Guardians must make rules for investing the fund. These rules must be consistent with their duty to invest the fund according to sections 16 to 24. You have to review these rules at least once a year. The Guardians must stick to these rules when investing the fund.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS210818.
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26: VCF investment vehicles not required to prepare statements or annual reports, or
"VCF investment vehicles do not need to prepare financial statements or annual reports."
28: Contents of statements of investment policies, standards, and procedures, or
"What's in a statement about investment rules and procedures?"
The Guardians must establish, and adhere to, investment policies, standards, and procedures for the VCF that are consistent with their duty to invest the VCF in accordance with sections 16 to 24.
The Guardians must review those investment policies, standards, and procedures for the VCF at least annually.
