Venture Capital Fund Act 2019

Investment of VCF

29: Investment management

You could also call this:

"Who helps manage the Venture Capital Fund's investments?"

Illustration for Venture Capital Fund Act 2019

You can think of the Guardians as the people in charge of the Venture Capital Fund. They get to choose who will help manage the investments. The Guardians can pick one or more people, including government departments, to manage parts of the fund. They must clearly state what powers and rights the chosen person has. You need to know that the Guardians' choices are subject to certain rules, like sections 19 to 24 and Part 1 of Schedule 1. This means the Guardians must follow those rules when making their decisions. The rules in this section do not limit what the Guardians can do under section 17 of the Crown Entities Act 2004. The Guardians have the power to make these decisions, and they must be careful about who they choose to help manage the investments. They must also make sure the chosen person knows what they can and cannot do. This helps keep everything organised and fair.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS210820.

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28: Contents of statements of investment policies, standards, and procedures, or

"What's in a statement about investment rules and procedures?"


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30: Custodianship of VCF, or

"Who looks after the Venture Capital Fund's money and property"

29Investment management

  1. The Guardians may appoint, on any terms and conditions that the Guardians think fit, 1 or more persons (including any department) to undertake the investment of any part of the VCF.

  2. Different persons may be appointed for different parts of the VCF.

  3. The Guardians must state, in each instrument of appointment, the powers and rights of the person appointed (including, without limitation, the extent of that person’s power to delegate any of those powers and rights).

  4. This section is subject to sections 19 to 24 and Part 1 of Schedule 1.

  5. This section does not limit section 17 of the Crown Entities Act 2004.

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