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Venture Capital Fund Act 2019

Investment of VCF

24: Limits on policy statement

You could also call this:

"The Minister can't tell the Venture Capital Fund what to invest in."

Illustration for Venture Capital Fund Act 2019

When the Minister makes a policy statement, they cannot tell the Venture Capital Fund to invest in a specific entity or fund. This rule applies even if the Crown Entities Act 2004 says something different. The Minister must follow this rule when making a policy statement, as per the Crown Entities Act 2004.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS220789.

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Topics:
Money and consumer rights > InvestingBusiness > Industry rules
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23: Directions in policy statement that require Guardians’ agreement, or

"The Minister's directions for the Venture Capital Fund need the Guardians' agreement."

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25: VCF investment vehicles, or

"What is a VCF investment vehicle in the Venture Capital Fund Act 2019?"

24Limits on policy statement

  1. Despite anything to the contrary in the Crown Entities Act 2004, the Minister must not include in a policy statement a direction that requires any part of the VCF to be invested in a particular entity or fund.