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Valuers Bill

Miscellaneous - Financial provisions

103: Institute must contribute to Board’s funds

You could also call this:

"The Institute helps pay the Board's expenses with its own money."

Illustration for Valuers Bill

The Valuers Bill says the Institute must help pay for the Board's expenses. You will know the Institute has to pay the Board some money from time to time. This money is used to cover the Board's lawful expenses. The Institute gets the money it pays to the Board from its own funds. If someone is unsure how much the Institute must pay in a year, the Minister decides. The Minister's decision on how much the Institute must pay is final, and you can't change it.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS617029.

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"Paying fees to the Valuers Institute"

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Part 4Miscellaneous
Financial provisions

103Institute must contribute to Board’s funds

  1. The Council must from time to time pay to the Board out of the money of the Institute the amount that may, with the money of the Board, be required for payment of the expenditure lawfully incurred by the Board at any time.

  2. If a question arises as to the amount that the Institute must pay in a financial year,—

  3. the Minister must determine the question; and
    1. the Minister’s decision is final.