You have to invest the Venture Capital Fund in New Zealand's venture capital markets. You must use best-practice investment management that is suitable for big investors. This means following good investment rules that other big investors use. You have to follow certain directions when investing the fund. These directions are outlined in sections 19 to 23. You must give effect to these directions when making investment decisions. The way you invest the fund is important. You need to make sure you are using the best investment methods. This will help the Venture Capital Fund grow and be successful.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS226831.
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The Guardians must invest the VCF in New Zealand’s venture capital markets using best-practice investment management that is appropriate for institutional investment in those markets.
However, this section is subject to the directions that the Guardians must give effect to under sections 19 to 23.
