21. Moneys of Council

The Council must open and maintain such accounts with a bank or banks as it considers necessary.

The moneys and property of the Council must be applied solely for the purpose of making payments in or in connection with the performance of its functions, powers and duties under this Act, and no portion thereof may be paid or transferred directly or indirectly by way of dividend, bonus or otherwise by way of profit to its members.

The Council may invest its moneys in accordance with the standard investment power of statutory bodies as defined in section 33A of the Interpretation Act 1965.