35Banking and investment of moneys of corporation

35 Banking and investment of moneys of corporation (1) A corporation must open and maintain an account with an ADI into which it must pay all moneys received by it and out of which must be paid all expenditure incurred by it. (2) Subject to subsection (3), moneys of a corporation may be invested: (a) in such manner as trust funds may be invested under the Trustee Act 1893; or (b) in such other manner as is authorised by a special resolution. (3) Moneys of a corporation shall not be invested in mortgages of land.