Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698835736336.pdf (New Zealand)
Reprint as at 1 April 2014 Taranaki Scholarships Trust Board Act 1957 Public Act 1957 No 108 Date of assent 25 October 1957 Commencement 25 October 1957 Contents Title Short Title and commencement Interpretation Part 1 Constitution of Board Constitution of Board Appointments and elections Casual vacancies Chairman of Board Meetings of Board Committees Part 2 Administration of Taranaki Scholarships Endowment Administration of Taranaki Scholarship Endowment reserve Taranaki Scholarship endowment money to be paid to Board Application of endowment income Taranaki Scholarships Page 2 2 2 3 4 4 5 5 6 6 7 7 8 Note Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.
Note 4 at the end of this reprint provides a list of the amendments incorporated.

This Act is administered by the Ministry of Education.
1 s 1 13 14 15 16 16A 21A 21B 22 23 Taranaki Scholarships Trust Board Act 1957 Reprinted as at 1 April 2014 Board to be advised of results of Entrance Scholarships Examination Existing Taranaki Scholarships to continue Taranaki Post-graduate Scholarships Powers of Board Application of gifts to Board that are free from trusts Borrowing of money Fees and travelling allowances Bylaws Money to be paid into bank Accounting records must be kept Financial statements must be prepared Financial statements must be audited Annual report to Minister Repeals [Repealed] Schedule Taranaki Scholarships Endowment land 9 9 9 10 11 12 12 12 12 13 13 13 14 14 15 An Act to incorporate the Taranaki Scholarships Trust Board, and to provide for the administration of the Taranaki Scholarships endowment and the award of scholarships Short Title and commencement This Act may be cited as the Taranaki Scholarships Trust Board Act 1957.
Part 2 shall come into force on 1 January 1958.
Interpretation In this Act, unless the context otherwise requires,— Board means the Taranaki Scholarships Trust Board constituted under this Act Chairman means the Chairman of the Board financial statements has the same meaning as in section 6 of the Financial Re- porting Act 2013 generally accepted accounting practice has the same meaning as in section 8 of the Financial Reporting Act 2013 Taranaki Post-graduate Scholarship means a Taranaki Post-graduate Schol- arship awarded under section 15.
Taranaki Scholarship means a Taranaki Scholarship awarded under section 12 Section 2 financial statements: inserted, on 1 April 2014, by section 125 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).

1 (1) (2) 2 2 Reprinted as at 1 April 2014 Taranaki Scholarships Trust Board Act 1957 Part 1 s 3 Section 2 generally accepted accounting practice: inserted, on 1 April 2014, by section 125 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
Part 1 Constitution of Board 3 (1) Constitution of Board There is hereby established for the purposes of this Act a Board, to be called the Taranaki Scholarships Trust Board.
(2) The Board shall consist of— (a) (b) (c) (d) (e) 1 member who at the time of his election to the Board shall be a member of the House of Representatives for an electoral district that contains any part of the Provincial District of Taranaki and who shall be elected by such of the members of the House of Representatives as for the time be- ing represent electoral districts that contain any part of that Provincial District: provided that in the event of an equality of votes on any such election the Minister of Education shall have a casting vote: [Repealed] [Repealed] [Repealed] 1 member to be appointed in respect of each post-primary school (in- cluding a private school) in the Provincial District of Taranaki that has for the time being not less than 500 full-time post-primary pupils, which appointment shall in each case be made by the governing body of the school: provided that the Taranaki Education Board shall not be entitled to ap- point a member under this paragraph.
(3) (4) (5) The Board shall be a body corporate with perpetual succession and a common seal, and shall be capable of holding real and personal property, and of suing and being sued, and of doing and suffering all that bodies corporate may do and suffer.

The Board shall be deemed to be a local authority for the purposes of the Na- tional Provident Fund Act 1950 (as continued in certain respects by the Nation- al Provident Fund Restructuring Act 1990), and section 6 of the Finance Act (No 2) 1941.
Except as provided in section 5, every appointed or elected member of the Board shall hold office for a term of 3 years, but may from time to time be re- appointed or re-elected.

Section 3(2)(b): repealed, on 23 July 1990, by section 50(1) of the Education Amendment Act 1990 (1990 No 60).

3 Part 1 s 4 Taranaki Scholarships Trust Board Act 1957 Reprinted as at 1 April 2014 Section 3(2)(c): repealed, on 23 July 1990, by section 50(1) of the Education Amendment Act 1990 (1990 No 60).
Section 3(2)(d): repealed, on 23 July 1990, by section 50(1) of the Education Amendment Act 1990 (1990 No 60).

Section 3(4): replaced, on 1 April 1991, by section 80 of the National Provident Fund Restructuring Act 1990 (1990 No 126).

Appointments and elections The first appointments and elections of members of the Board shall in every case be made or held not later than 31 December 1957.
The following provisions shall apply in respect of the appointment of members under paragraph (e) of subsection (2) of section 3 by the governing bodies of post-primary schools: (a) (b) the right of any governing body to appoint a member in respect of any school controlled by it shall be determined by the roll of the school on 1 March immediately preceding the date of the appointment: every such member shall be a person who, at the time of his appoint- ment, is ordinarily resident in the Provincial District of Taranaki, but need not be a member of the governing body which appointed him.
Elections under paragraph (a) of subsection (2) of section 3 shall be held at such times and in such manner as may from time to time be prescribed by the Minister of Education.

The first appointments and election of members of the Board shall in each case be notified in writing to the Vice-Chancellor of the University of New Zealand by the body making the appointment or the person conducting the election.
Casual vacancies If any person, while an appointed or elected member of the Board,— (a) (b) (c) (d) dies; or resigns his office by writing under his hand delivered to the Board or the Chairman; or is adjudged a bankrupt; or becomes subject to a property order made under section 31 of the Protec- tion of Personal and Property Rights Act 1988 or becomes a person for whom a trustee corporation is acting as manager under section 32 or 33 of that Act; or (e) is convicted of any offence punishable by imprisonment,— his office shall be thereby vacated, and the vacancy thereby created shall be deemed to be a casual vacancy.
Every such casual vacancy shall be filled by the appointment or election of a new member in the manner in which the appointment or election to the vacant office was originally made.

Every person so appointed or elected shall be ap- 4 (1) (2) (3) (4) 5 (1) (2) 4 Reprinted as at 1 April 2014 Taranaki Scholarships Trust Board Act 1957 Part 1 s 7 (3) pointed or elected for the residue of the term for which his predecessor was ap- pointed or elected.
If on 1 March in any year the number of full-time post-primary pupils on the roll of any school in respect of which a member of the Board has been appoin- ted or elected under paragraph (e) of subsection (2) of section 3 is less than 500, that member shall vacate his office on 31 December next following or upon the earlier expiry of his term of office, and shall not be replaced until the governing body of the school again acquires a right to appoint a member in re- spect of the school in accordance with paragraph (a) of subsection (2) of sec- tion 4.
(4) Unless he sooner vacates his office as provided in the foregoing provisions of this section, every member of the Board shall continue in office until his suc- cessor comes into office, notwithstanding anything to the contrary in this Act.

(5) The powers of the Board shall not be affected by any vacancy in the member- ship thereof.
Section 5(1)(d): replaced, on 10 September 2008, by section 20(2) of the Disability (United Nations Convention on the Rights of Persons with Disabilities) Act 2008 (2008 No 64).

6 (1) (2) Chairman of Board The Board shall from time to time elect one of its members to be Chairman of the Board.

The Chairman of the Board shall preside at all meetings of the Board at which he is present.
If at any meeting of the Board the Chairman for the time being is not present or there is no Chairman, the Board shall appoint some member present to act as Chairman in respect of that meeting.

(3) At any meeting of the Board the Chairman of that meeting shall have a delib- erative vote; and, in the case of an equality of votes, he shall also have a cast- ing vote.
7 (1) Meetings of Board The first meeting of the Board shall be held at a time and place of which notice shall be given by the Vice-Chancellor of the University of New Zealand to the members, and meetings shall be held thereafter at such times and places as the Board or the Chairman shall decide.

(2) At every meeting of the Board 5 members shall form a quorum.

(3) (4) Every matter before the Board shall be determined by a majority of votes of the members present at a meeting of the Board.
Except as expressly provided in this Act, the Board may regulate its procedure in such manner as it thinks fit.
5 Part 1 s 8 Taranaki Scholarships Trust Board Act 1957 Reprinted as at 1 April 2014 8 (1) Committees The Board may from time to time appoint Committees consisting of 2 or more persons, being members of the Board or other persons; and may refer to any such Committee any matters for consideration or inquiry or management or regulation; and may delegate to any such Committee any of the Board’s powers and duties, except— (a) (b) the powers conferred by sections 12 and 15; and the powers to borrow money, to make bylaws, to enter into contracts, and to institute actions.
(2) The Board may at any time and from time to time discharge or reconstitute or continue any committee; and may remove from office any member of a Com- mittee and (if it thinks fit) appoint another member in his place.
Part 2 Administration of Taranaki Scholarships Endowment 9 (1) (2) Administration of Taranaki Scholarship Endowment reserve The reserve described in the Schedule, which reserve is vested in the Crown, shall on and after 1 January 1958, be held by the Crown in trust as an endow- ment for the purposes of this Act: provided that section 16A shall not apply to the said endowment.
The said reserve shall be administered and dealt with by the Commissioner of Crown Lands appointed under section 12A of the Survey Act 1986, and with respect to any of the land in the reserve that Commissioner may either— (a) (b) grant leases under the provisions of the Public Bodies Leases Act 1969 in the same manner as if that Commissioner were a leasing authority within the meaning of that Act; or grant renewable leases, or licences with or without a right of renewal, under the Land Act 1948 on the same terms and conditions in all re- spects as in the case of Crown land: provided that the lessee or licensee shall not have the right to acquire the fee simple of the land comprised in his lease or licence.
(3) Nothing in this section shall deprive any lessee of any right of renewal now vested in him.

(4) The revenue derived from the said reserve shall (after deducting such sum as may for the time being be approved by the Minister of Finance for the adminis- tration of the reserve and without further appropriation than this section) be paid to the Taranaki Scholarships Trust Board.
Section 9(1) proviso: inserted on 18 November 1961, by section 4(1) of the Taranaki Scholarships Trust Board Amendment Act 1961 (1961 No 63).

6 Reprinted as at 1 April 2014 Taranaki Scholarships Trust Board Act 1957 Part 2 s 11 Section 9(2): amended on 1 February 1990, pursuant to section 9(2) of the Survey Amendment Act (No 3) 1989 (1989 No 139).

Section 9(2)(a): amended on 1 February 1990, pursuant to section 9(2) of the Survey Amendment Act (No 3) 1989 (1989 No 139.
Section 9(2)(a): amended, on 1 January 1970, pursuant to section 28(1)(a) of the Public Bodies Leases Act 1969 (1969 No 141).

10 Taranaki Scholarship endowment money to be paid to Board (1) On 1 January 1958, the Public Trustee shall pay to the Board all money then held by him pursuant to section 22 of the New Zealand University Amendment Act 1914.
(2) All such money, and all other property for the time being owned by the Board, shall be held and administered by it for the purposes of this Act: 11 (1) provided that this subsection shall not apply to any money or other property of which the Board has been appointed as trustee under subsection (2) of section 16 or to any property to which section 16A applies: provided also that section 16A shall not apply to any money or property to which this subsection applies.
Section 10(2) first proviso: inserted on 18 November 1961, by section 4(2) of the Taranaki Scholar- ships Trust Board Amendment Act 1961 (1961 No 63).

Section 10(2) second proviso: inserted on 18 November 1961, by section 4(2) of the Taranaki Schol- arships Trust Board Amendment Act 1961 (1961 No 63).
Application of endowment income The Board shall apply such part as it thinks fit of its income (including income accumulated by it after the commencement of this Part but not including in- come received by the Board as trustee under subsection (2) of section 16 and not including income to which section 16A applies) in payment of all proper expenditure of the Board, and subject thereto for the following purposes: (a) (b) (c) the grant of Taranaki Scholarships and allowances relating thereto pur- suant to section 12: the grant of post-graduate scholarships and allowances relating thereto pursuant to section 15: the exercise of any other powers, duties, and functions by this Act con- ferred on the Board.
(2) For the purposes of this Act, 3,500 pounds of the money paid to the Board by the Public Trustee pursuant to section 10 shall be deemed to be income, and the balance of that money shall be deemed to be capital.

Section 11(1): amended, on 18 November 1961, by section 4(3) of the Taranaki Scholarships Trust Board Amendment Act 1961 (1961 No 63).
7 Part 2 s 12 Taranaki Scholarships Trust Board Act 1957 Reprinted as at 1 April 2014 12 (1) (2) Taranaki Scholarships For the purposes of bringing higher education within the reach of deserving scholars within the Provincial District of Taranaki, there shall be awarded, in accordance with this section, scholarships to be called Taranaki Scholarships.

The Board may award 1 or more Taranaki Scholarships annually, as its income permits.
(3) No candidate shall be awarded a Taranaki Scholarship unless he has— (a) (b) obtained an A award in the University Bursaries Examination, or at- tained a standard approved by the Board for the purpose in the Entrance Scholarships Examination, conducted by the Universities Entrance Board; or as a student enrolled at a tertiary institution at which such a scholarship is tenable, in any year been credited with passes, at a level of attainment acceptable to the Board for the purpose, in subjects or units that together constitute a full-time programme within the meaning of the Tertiary As- sistance Grants Regulations 1980 or regulations passed in amendment of or substitution for those regulations.
(4) No candidate shall be awarded a Taranaki Scholarship unless, for a continuous period of at least 2 years, he either was enrolled at a school situated within the Provincial District of Taranaki, or was resident in that District and enrolled at a correspondence school established by the Minister of Education, and— (a) (b) in the case of a candidate qualified under subsection (3)(a), that period included 31 July in the year in which he sat the examination concerned; or in the case of a candidate qualified under subsection (3)(b), that period either— (i) (ii) included 31 July in the year before the year in which he first atten- ded a tertiary institution; or if the Board is satisfied that the candidate had good reason for de- laying his enrolment at that institution, included 31 July in the year 2 years before the year in which he first attended a tertiary institution.
(5) Notwithstanding subsection (4)(b), where the Board is satisfied that special reasons exist for doing so, it may award a Taranaki Scholarship to a candidate who is qualified under subsection (3)(b) and who for any continuous period of at least 2 years either was enrolled at a secondary school situated in the Provin- cial District of Taranaki or was resident in that District and enrolled at a corres- pondence school established by the Minister of Education.
(6) A Taranaki Scholarship is tenable— (a) at any institution established under Part 14 of the Education Act 1989: 8 Reprinted as at 1 April 2014 Taranaki Scholarships Trust Board Act 1957 Part 2 s 15 (b) at any private training establishment (within the meaning of section 159(1) of the Education Act 1989) approved for the purposes of this Act by the Minister of Education by notice in the Gazette.
(7) A Taranaki Scholarship (other than a scholarship without emoluments) shall not be tenable with a University Junior Scholarship awarded by the Univer- sities Entrance Board.

(8) Subject to subsection (7), the value and conditions of tenure of Taranaki Schol- arships shall be specified by bylaws from time to time made by the Board.

Section 12: replaced, on 23 November 1982, by section 2(1) of the Taranaki Scholarships Trust Board Amendment Act 1982 (1982 No 103).
Section 12(5): amended, on 30 March 1987, by section 2 of the Taranaki Scholarships Trust Board Amendment Act 1987 (1987 No 56).

Section 12(6): replaced, on 25 June 1993, by section 2 of the Taranaki Scholarships Trust Board Amendment Act 1993 (1993 No 54).
13 Board to be advised of results of Entrance Scholarships Examination The Universities Entrance Board shall, as soon as practicable in each year, transmit to the Taranaki Scholarships Trust Board the results of the Entrance Scholarships Examination and the Universities Bursaries Examination.

Section 13: replaced, on 1 January 1963, by section 3 of the Taranaki Scholarships Trust Board Amendment Act 1962 (1962 No 28).
Section 13: amended, on 23 October 1969, by section 3 of the Taranaki Scholarships Trust Board Amendment Act 1969 (1969 No 107).
14 Existing Taranaki Scholarships to continue (1) Holders of Taranaki Scholarships granted before the commencement of this Part and current thereafter shall continue to be entitled to all the benefits of the scholarships during the currency thereof, except that those scholarships shall be held by them on the same terms and conditions as to the amount thereof and as to any allowances relating thereto as shall for the time being apply to Taranaki Scholarships awarded under this Act: provided that nothing in this subsection shall empower the Board to reduce the value of the benefits derived by any such holder in respect of a Taranaki Schol- arship to less than the value thereof at the commencement of this Part.
(2) In the year 1958, and in each year thereafter during the currency of the scholar- ships, the Board shall pay to, or for the benefit of, the holders of Taranaki Scholarships to whom this section applies such amounts as may from time to time be payable in respect thereof pursuant to subsection (1).
15 Taranaki Post-graduate Scholarships For the purpose of assisting post-graduate studies of graduates of any Universi- ty in New Zealand who have resided in the Provincial District of Taranaki there are hereby established scholarships to be called Taranaki Post-graduate Schol- arships; and with respect thereto the following provisions shall apply: 9 Part 2 s 16 Taranaki Scholarships Trust Board Act 1957 Reprinted as at 1 April 2014 (a) (b) (c) (d) (e) they shall be available for award by the Board to any graduate of a Uni- versity in New Zealand who, at 31 December immediately preceding the date on which he matriculated as a member of a University in New Zea- land, was qualified for award of a Taranaki Scholarship by attendance or residence and enrolment under the provisions of paragraph (c) of section 12, whether or not the graduate was a candidate (either successful or un- successful) for award of a Taranaki Scholarship: the Board may award 1 or more Taranaki Post-graduate Scholarships as and when it thinks fit: the value and conditions of tenure of a Taranaki Post-graduate Scholar- ship shall be in accordance with bylaws which shall be made in that be- half by the Board.
[Repealed] [Repealed] Section 15: amended, on 1 January 1962, by section 5(2)(f) of the Taranaki Scholarships Trust Board Amendment Act 1961 (1961 No 63).

Section 15(a): amended, on 1 January 1962, by section 5(2)(c) of the Taranaki Scholarships Trust Board Amendment Act 1961 (1961 No 63).

Section 15(c): replaced, on 1 January 1963, by section 4 of the Taranaki Scholarships Trust Board Amendment Act 1962 (1962 No 28).
Section 15(d): repealed, on 1 January 1963, by section 4 of the Taranaki Scholarships Trust Board Amendment Act 1962 (1962 No 28).

Section 15(e): repealed, on 1 January 1963, by section 4 of the Taranaki Scholarships Trust Board Amendment Act 1962 (1962 No 28).
Powers of Board In exercising its powers, duties, and functions under this Act, the Board shall have the following powers: (a) (b) (c) to engage and employ on such terms and conditions as it thinks fit such servants and agents as it from time to time thinks fit on such terms and conditions as to remuneration and otherwise as it thinks fit; and from time to time to terminate any such engagement or employment and to vary the terms and conditions thereof: to invest such part as it thinks fit of any funds for the time being vested in the Board in accordance with the provisions of the Trustee Act 1956 as to the investment of trust funds, and from time to time to realise, alter, or vary any such investments: subject to the terms of any instrument creating a trust affecting the same, to sell or lease or let any real or personal property for the time being ves- ted in the Board; and to apply the proceeds of sale either immediately or at any time thereafter either in the purchase of other property or in any investment authorised by paragraph (b): 16 (1) 10 Reprinted as at 1 April 2014 Taranaki Scholarships Trust Board Act 1957 Part 2 s 16A (d) (e) (f) (g) (h) to take on lease or as a tenant any premises for the time being required by the Board for the exercise of its powers, duties, and functions under this Act: to acquire such furniture, equipment, and other chattels as may from time to time be required by the Board for the exercise of its powers, duties, and functions under this Act; and to dispose of the same: to manage, develop, subdivide, and improve any land for the time being vested in it under this Act; and do all things necessary for any such pur- pose: to accept devises, bequests, gifts, and donations of any kind: generally to do all such acts and things as may be necessary or expedient for the exercise of the powers, duties, and functions of the Board under this Act.
(2) (3) The Board may be appointed as trustee of any real or personal property for any educational purpose.

The Board may charge a due proportion of its proper expenditure against real and personal property to which subsection (2) or section 16A applies.

Section 16(1)(b): replaced, on 1 October 1988, by section 14(1) of the Trustee Amendment Act 1988 (1988 No 119).

Section 16(2): inserted, on 18 November 1961, by section 2 of the Taranaki Scholarships Trust Board Amendment Act 1961 (1961 No 63).
Section 16(3): inserted, on 18 November 1961, by section 2 of the Taranaki Scholarships Trust Board Amendment Act 1961 (1961 No 63).
16A Application of gifts to Board that are free from trusts (1) Where under paragraph (g) of subsection (1) of section 16 the Board has ac- cepted any devise, bequest, gift, or donation that has been given to the Board absolutely or for its general purposes, unless otherwise directed by the donor or by the instrument providing for the gift, the Board shall have power to apply both the income and capital so given for the purpose of bringing University education within the reach of deserving scholars within the Provincial District of Taranaki.
(2) Without limiting the generality of subsection (1), it is hereby declared that the Board shall have power to apply income and capital to which that subsection applies for all or any of the following purposes: (a) (b) (c) the grant of Taranaki Scholarships and allowances relating thereto pur- suant to section 12: the grant of Taranaki Post-graduate Scholarships and allowances relating thereto pursuant to section 15: the grant of further or other scholarships, bursaries, grants, or allowances for the University education of deserving scholars within the Provincial District of Taranaki.
11 Part 2 s 17 Taranaki Scholarships Trust Board Act 1957 Reprinted as at 1 April 2014 Section 16A: inserted, on 18 November 1961, by section 3 of the Taranaki Scholarships Trust Board Amendment Act 1961 (1961 No 63).
17 Borrowing of money In exercising its powers, duties, and functions under this Act, the Board shall have power to borrow money either with or without giving security over any assets vested in it and either by way of overdraft or otherwise: provided that the amount so borrowed by the Board shall not at any time ex- ceed half of the income of the Board for its preceding financial year.
18 (1) (2) (3) Fees and travelling allowances The Board, and any Committee appointed under section 8, are hereby declared to be statutory Boards within the meaning of the Fees and Travelling Allow- ances Act 1951.

The Board may pay to its Chairman remuneration by way of fees, salary, or al- lowances in accordance with the Fees and Travelling Allowances Act 1951, and the provisions of that Act shall apply accordingly.
The Board may pay to its Chairman, and to members of the Board or of any Committee thereof appointed under section 8, travelling allowances and ex- penses in accordance with the Fees and Travelling Allowances Act 1951, and the provisions of that Act shall apply accordingly.
19 Bylaws The Board may from time to time make bylaws, not inconsistent with this Act, for all or any of the following purposes: (a) (b) (c) (d) prescribing the value, and conditions in respect of the granting and ten- ure, of scholarships and allowances under this Act, including scholar- ships and allowances granted before the passing of this section: provided that no such bylaws shall come into force until they receive the consent of the Minister of Education: regulating the procedure of the Board: regulating the management and administration of assets vested in the Board: providing for such other matters as are contemplated by or necessary for giving full effect to the provisions of this Act and for the due administra- tion thereof.
Section 19: replaced, on 1 January 1963, by section 5 of the Taranaki Scholarships Trust Board Amendment Act 1962 (1962 No 28).

20 Money to be paid into bank (1) All money belonging to the Board amounting to 5 pounds and upwards shall, within 7 days after it has come into the hands of any member or servant or 12 Reprinted as at 1 April 2014 Taranaki Scholarships Trust Board Act 1957 Part 2 s 21B agent of the Board, be paid into the account of the Board at such bank as the Board from time to time appoints.
(2) No money shall be withdrawn from any such account, except by authority of the Board and by cheque signed by such person or persons as the Board from time to time, subject to any requirements of the Auditor-General, may author- ise.

Section 20(2): amended, on 1 July 2001, pursuant to section 52 of the Public Audit Act 2001 (2001 No 10).
21 (1) Accounting records must be kept The Board must ensure that there are kept at all times accounting records that— (a) correctly record the transactions of the Board; and (b) will enable the Board to ensure that the financial statements of the Board comply with this Act; and (c) will enable the financial statements of the Board to be readily and prop- erly audited.

(2) The Board must establish and maintain a satisfactory system of control of those accounting records.
(3) The accounting records must be kept— (a) (b) in written form in English; or in a form or manner in which they are easily accessible and convertible into written form in English.

Section 21: replaced, on 1 April 2014, by section 125 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
21A Financial statements must be prepared (1) The Board must ensure that, within 5 months after the end of the financial year, financial statements that comply with generally accepted accounting practice are— (a) (b) completed in relation to the Board and that financial year; and dated and signed on behalf of the Board by 2 members of the Board.

(2) The financial year of the Board ends on the date that the Board may from time to time determine.
Section 21A: inserted, on 1 April 2014, by section 125 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).

21B Financial statements must be audited (1) (2) The Board must ensure that the financial statements of the Board are audited.

The Board is a public entity as defined in section 4 of the Public Audit Act 2001 and, in accordance with that Act, the Auditor-General is its auditor.
13 Part 2 s 22 Taranaki Scholarships Trust Board Act 1957 Reprinted as at 1 April 2014 Section 21B: inserted, on 1 April 2014, by section 125 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
22 Annual report to Minister The Board must, within 1 month after the receipt of the audit report on the fi- nancial statements, provide to the Minister of Education a report of its proceed- ings and operations for its preceding financial year, a copy of its financial state- ments for that year, and a copy of the audit report.

Section 22: replaced, on 1 April 2014, by section 125 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
23 Repeals [Repealed] Section 23: repealed, on 1 January 1962, by section 60 of the Universities Act 1961 (1961 No 54).
14 Reprinted as at 1 April 2014 Taranaki Scholarships Trust Board Act 1957 Schedule Schedule Taranaki Scholarships Endowment land Section 22, Block IV, Carlyle Survey District Lot 1, DP 6414, being Part Section 23, Block IV, Carlyle Survey Dis- trict Lot 2, DP 6414, being Part Section 23, Block IV, Carlyle Survey Dis- trict Lot 3, DP 6414, being Part Section 23, Block IV, Carlyle Survey Dis- trict Subdivisions 1 and 2 of Section 24, Block IV, Carlyle Survey District Section 25, Block IV, Carlyle Survey District Section 27, Block IV, Carlyle Survey District Section 1, Block V, Carlyle Survey District Section 2, Block V, Carlyle Survey District A 654 970 R 0 0 P 0 0 Section 1, Block XI, Opaku Survey District Section 6, Block XV, Opaku Survey District Section 1, Block XII, Opaku Survey District Part Section 1, Block XIV, Opaku Survey District, and being all the land in Registered Lease No 18690 (Taranaki Registry) Section 1, Block XV, Opaku Survey District Sections 2, 9, and 15, Block XV, Opaku Survey District Sections 3, 4, and 5, Block XV, Opaku Survey District Section 7, Block XV, Opaku Survey District A 195 112 112 0 487 475 455 350 300 1 624 719 533 420 1 048 2 724 23 s 9(1) P 0 28 28 4.5 0 0 4 0 0 0 29 0 0 25 0 0 R 0 2 2 0 0 0 0 0 0 0 1 1 0 1 0 0 15 Notes Taranaki Scholarships Trust Board Act 1957 Reprinted as at 1 April 2014 Reprints notes 1 2 General This is a reprint of the Taranaki Scholarships Trust Board Act 1957 that incorp- orates all the amendments to that Act as at the date of the last amendment to it.
Legal status Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment.

Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act.

A printed version of the reprint produced directly from this official elec- tronic version also has official status.
3 Editorial and format changes Editorial and format changes to reprints are made using the powers under sec- tions 24 to 26 of the Legislation Act 2012.

See also http://www.pco.parlia- ment.govt.nz/editorial-conventions/.
4 Amendments incorporated in this reprint Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102): section 125 Disability (United Nations Convention on the Rights of Persons with Disabilities) Act 2008 (2008 No 64): section 20(2) Public Audit Act 2001 (2001 No 10): sections 52, 53 Taranaki Scholarships Trust Board Amendment Act 1993 (1993 No 54) National Provident Fund Restructuring Act 1990 (1990 No 126): section 80 Education Amendment Act 1990 (1990 No 60): section 50(1) Survey Amendment Act (No 3) 1989 (1989 No 139): section 9(2) Trustee Amendment Act 1988 (1988 No 119): section 14(1) Taranaki Scholarships Trust Board Amendment Act 1987 (1987 No 56) Taranaki Scholarships Trust Board Amendment Act 1982 (1982 No 103) Public Bodies Leases Act 1969 (1969 No 141): section 28(1)(a) Taranaki Scholarships Trust Board Amendment Act 1969 (1969 No 107) Taranaki Scholarships Trust Board Amendment Act 1962 (1962 No 28) Taranaki Scholarships Trust Board Amendment Act 1961 (1961 No 63) Universities Act 1961 (1961 No 54): section 60 Wellington, New Zealand: Published under the authority of the New Zealand Government—2014 16