1 Nov 2010
NAPIER CITY COUNCIL HC NAP CIV 2010-441-524
- Citation
- openlaw-83517cff_6732_4f1c_8e35_0f5ee0197e40.pdf
- Court
- High Court
Section 20 does not prohibit an incorporated society from owning controlling shares in a company that operates for pecuniary gain provided the society's core purposes are not for pecuniary gain and any pecuniary gain received by the society is not divisible among or distributed to its members; ownership via a separate company does not amount to the society itself engaging in prohibited commercial activity.