New Zealand Acts

LOCAL LEGISLATION ACT 1948 - SECT 20

20 Conferring certain powers on New Plymouth Borough Council for purpose of meeting defalcations

Whereas difficulties have been caused to the New Plymouth Borough Council (in this section referred to as the
"Council" ) by reason of large sums of money belonging to the Council having been stolen:   And whereas it is expedient that the Council should be vested with certain powers to enable it to overcome those difficulties:     Be it therefore enacted as follows:  

1 Notwithstanding anything to the contrary in any Act or rule of law, the Council is hereby authorised, for the purpose of restoring to any account of the Council moneys which have been stolen therefrom,—

a) from time to time from any moneys or fund set aside by it under the provisions of section 130 of the Municipal Corporations Act 1933, or of section 8 of the New Plymouth Borough Council Empowering Act 1929 , to transfer to its General Account or to any separate account (whether any such separate account be in respect of any trading undertaking or otherwise) such sums as the Controller and Auditor-General may authorise:

b) to borrow moneys from its bankers in accordance with the provisions of section 7 of the Local Bodies' Finance Act 1921–22 to the extent and in the manner provided by that section.

2 Moneys transferred by the Council under the authority of paragraph (a) of subsection (1) shall be considered as a liability of the account into which the transfer has been made, and shall be repaid and restored to the fund or account from which the transfer was made on the dates and in amounts to be fixed by the Controller and Auditor-General.