Licensing Fund Act 1989

1: Short Title
This Act may be cited as the Licensing Fund Act 1989.
2: Licensing Fund and Licensing Fund Account preserved
1: There shall continue to be a Licensing Fund, which shall be the same fund as that established under the same name by section 16 of the Licensing Amendment Act 1948 section 17 of the Sale of Liquor Act 1962
2: All money payable to the Fund shall continue to be paid to the credit of the Licensing Fund Account established at the Reserve Bank of New Zealand pursuant to section 18 of the Sale of Liquor Act 1962.
3: The Licensing Fund Account shall hereafter be operated upon by cheque signed by the chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of this Act
4: Any money belonging to the Fund and available for investment may from time to time be invested by the chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of this Act
a: in New Zealand Government securities; or
b: on deposit in any bank or banks approved by the Minister of Finance; or
c: in any other manner, or in any other securities, that may from time to time be authorised by the Minister of Finance.
5: The chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of this Act chief executive
6: Subject to subsection (5), and to section 3 chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of this Act a Crown Bank Account
7: For the purposes of the audit of accounts, all money belonging to the Fund shall be deemed to be public money within the meaning of the Public Finance Act 1989 and the Auditor-General has the same duties and powers in respect of that money, and of every person dealing with it, as if the Fund were a public entity as defined by section 4 Section 2(3) amended 1 October 1995 section 10(3) Department of Justice (Restructuring) Act 1995 Section 2(4) amended 1 October 1995 section 10(3) Department of Justice (Restructuring) Act 1995 Section 2(5) amended 1 October 1995 section 10(3) Department of Justice (Restructuring) Act 1995 Section 2(6) amended 25 January 2005 section 83(7) Public Finance Act 1989 Section 2(6) amended 1 October 1995 section 10(3) Department of Justice (Restructuring) Act 1995 Section 2(7) amended 1 July 2001 section 53 Public Audit Act 2001
3: Refunds of fair price in certain cases
1: Any person who, at any time within the period of 5 years immediately preceding the commencement of this Act, paid any money by way of fair price on the issue of any new wholesale licence under the Sale of Liquor Act 1962 chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of this Act
2: On an application under subsection (1), the chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of this Act
3: For the purposes of subsection (2), the revised amount shall be calculated in accordance with the following formula: where FP is the amount paid by way of fair price; and N is the number of years that elapsed in whole or in part between the date of the issue of the licence and the date of the commencement of this Act. Section 3(1) amended 1 October 1995 section 10(3) Department of Justice (Restructuring) Act 1995 Section 3(2) amended 1 October 1995 section 10(3) Department of Justice (Restructuring) Act 1995
4: Hotel Investment Account continued
1: There shall continue to be a Hotel Investment Account established by section 20 of the Sale of Liquor Act 1962
2: No new advances shall be made out of the Hotel Investment Account, except to the extent required by any agreement entered into before the commencement of this Act.
3: All money for the time being standing to the credit of the Hotel Investment Account shall be paid into the Licensing Fund, except to the extent necessary for any advance required by any agreement entered into before the commencement of this Act.