LOCAL GOVERNMENT ACT 1995 - SECT 6.14
LOCAL GOVERNMENT ACT 1995 - SECT 6.14
6.14 . Power to invest
(1) Money held in the
municipal fund or the trust fund of a local government that is not, for the
time being, required by the local government for any other purpose may be
invested as trust funds may be invested under the Trustees Act 1962 Part III.
(2A) A local
government is to comply with the regulations when investing money referred to
in subsection (1).
(2) Regulations in
relation to investments by local governments may —
(a) make
provision in respect of the investment of money referred to in subsection (1);
and
[(b) deleted]
(c)
prescribe circumstances in which a local government is required to invest
money held by it; and
(d)
provide for the application of investment earnings; and
(e)
generally provide for the management of those investments.
[Section 6.14 amended: No. 49 of 2004 s. 58; No.
17 of 2009 s. 36; No. 2 of 2012 s. 19.]