You can get an approval from the Minister to not follow a direction. This happens when the Guardians are investing the Venture Capital Fund. The Minister can approve this for certain circumstances or parts of the fund, as stated in section 20(2)(b), (d), or (f). The Minister can give approval for any type of circumstance. This means the Minister has the power to decide when to approve. The Minister's approval is important for the Guardians' decisions.
This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.
View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS230839.
This page was last updated on — View changes
The Guardians do not have to give effect to a direction under section 20(2)(b), (d), or (f) in particular circumstances, or in relation to a part of the VCF, if the Minister gives approval.
The Minister’s approval may be given for any class of circumstances.
