98Powers of Trust

#### 98 Powers of Trust 98 Powers of Trust > > (1) The Trust has power to do all things that are necessary or convenient to be done for or in connection with the exercise of its functions or that are supplemental or incidental to, or consequential on, the exercise of its functions. > > > (2) Without limiting subsection (1), the Trust has power to do the following— > > > > > (a) to buy, sell, hold, mortgage, lease or otherwise deal with land or other property, > > > > > (b) to borrow money, either with or without security, > > > > > (c) to act as trustee of money or other property vested in the Trust, > > > > > (d) to invest money held in the Public Fund and the Operating Fund— > > > > > > > (i) if the Trust is a GSF agency for the purposes of the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055), Part 6—in a way that the Trust is permitted to invest money under that Part, or > > > > > > > (ii) if the Trust is not a GSF agency for the purposes of the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055), Part 6—in the same way as trustees may invest trust funds or in another way approved by the Treasurer, > > > > > (e) to make and enter into contracts or other arrangements for the carrying out of works, the performance of services or the supply of goods or materials, > > > > > (f) to appoint agents, > > > > > (g) to set fees in relation to administrative matters. > > **s 98:** Am 1983 No 183, Schs 4 (1), 5 (7); 1991 No 66, Sch 1 (8); 1993 No 78, Sch 1 (2); 1993 No 108, Sch 2; 1995 No 60, Sch 1 \[4\]; 1995 No 101, Sch 4 \[63\]–\[69\]; 2001 No 130, Schs 1 \[127\], 3 \[13\]; 2002 No 78, Sch 2.5 \[7\]–\[10\]; 2004 No 88, Sch 3.1 \[3\]; 2005 No 43, Sch 7.12 \[2\]; 2008 No 62, Sch 1.16 \[2\]; 2011 No 22, Sch 2.18 \[2\]. Rep 2016 No 63, Sch 11.5 \[11\]. Ins 2021 No 47, Sch 1.1\[17\]. Am 2024 No 42, Sch 1\[14\].