57Banking accounts of territory authorities

57 Banking accounts of territory authorities (1) A territory authority may open 1 or more banking accounts for the purposes of the authority. (2) A territory authority must at all times keep at least 1 banking account. (3) A banking account of a territory authority must not, without the Treasurer’s written approval, be opened or kept otherwise than with an authorised deposit-taking institution with which an agreement is in force under section 32 (Agreement for the conduct of banking for Territory).