✨ Regulations for General Trust Fund
30 SEPTEMBER 2009 NEW ZEALAND GAZETTE, No. 144 3449
PART XIII
SPECIAL FUNDS
GENERAL TRUST FUND
1301 NZTR shall publish, from time to time, a General Trust Fund Policy which shall include:
(a) the general purposes of the General Trust Fund;
(b) the type of monies or fines that will be used to fund the General Trust Fund;
(c) the responsibilities of the General Trustees in controlling and administering the General Trust Fund;
(d) the terms on which a person is eligible to submit a request for a grant or payment; and
(e) the terms and conditions on which payments shall be granted and the manner in which those payments may be made.
1302 The General Trustees shall control and administer the General Trust Fund in accordance with the terms of the General Trust Fund Policy.
1303 The moneys comprising the General Trust Fund shall be the absolute property of that trust and may be disbursed only:
(a) by the General Trustees of the General Trust Fund appointed under these Rules; and
(b) in accordance with the General Trust Fund Policy.
1304 Save as is specifically provided in these Rules or in the General Trust Fund Policy, a person shall not be entitled, as of right, to any payment or indemnity from the General Trust Fund.
GENERAL TRUSTEES
1305 (1) NZTR shall appoint, from time to time, three persons who shall act as the General Trustees of the General Trust Fund.
(2) The office of General Trustee shall be deemed to be vacant if a General Trustee:
(a) dies;
(b) tenders his resignation in writing to NZTR;
(c) is removed from office by NZTR; or
(d) leaves New Zealand for a period stated by him or otherwise established to the satisfaction of NZTR to be not less than six consecutive months.
The Chief Executive may thereupon appoint a fit person to hold temporary office as a General Trustee until NZTR appoints a person to permanently fill the vacancy at which meeting the vacancy shall be filled.
1306 (1) The General Trustees shall appoint one of their number to be Chairman, who shall preside at all meetings of the Trustees.
(2) Meetings of the General Trustees shall be held at such times and places as the Chairman directs and shall be convened by the Secretary of the General Trust Fund in accordance with such direction.
(3) At any such meetings two General Trustees shall form a quorum and have power to act as if all the Trustees were present.
(4) At a meeting at which all three General Trustees are present all matters shall be decided by a majority vote, otherwise all matters shall be decided by a unanimous vote.
(5) The General Trustees may decide any matter by correspondence but in such event their decision shall not be valid unless it is unanimous.
(6) The General Trustees may, from time to time, by Resolution passed at any meeting at which they are all present make Regulations for the more effective administration of the General Trust Fund in accordance with these Rules. Any such Regulations may in like manner be amended or revoked.
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NZ Gazette 2009, No 144
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Regulations for General Trust Fund in Racing
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🏭 Trade, Customs & IndustryGeneral Trust Fund, NZTR, Racing Regulations, Trustees, Policy