New Zealand Legislation: Regulations
Regulations are laws made under Acts
(1) A licence holder must establish a net proceeds committee to make decisions on the application or distribution of net proceeds to or for an authorised purpose specified in the licence.
(2) A licence holder may establish more than 1 net proceeds committee including a committee—
(a) relating to a particular region or district; or
(b) that specialises in distribution of net proceeds for particular authorised purposes.
(3) A net proceeds committee must comprise at least 3 natural persons who are key persons in relation to the class 4 operator’s licence.