What the official record says
This Act is the New Plymouth District Council (Perpetual Investment Fund) Act . This Act comes into force on the day after Royal assent. The purpose of this Act is to ensure the Perpetual Investment Fund continues as a long-term financial investment for the benefit of the social, economic, environmental, and cultural well-being of current and future communities of the New Plymouth District. In this Act, unless the context otherwise requires,— means the territorial authority named in Part 2 of Schedule 2 of the Local Government Act 2002 as New Plymouth District Council, and any legal successor that has the role of giving effect to the purpose of local government in relation to the New Plymouth District means the area delineated in clause 35 of the Local Government (Taranaki Region) Reorgani