Document ID: chunk:federal_register_of_legislation:F2024L01130:reg:15
Version: federal_register_of_legislation:F2024L01130
Segment Type: reg
Provision Reference: reg 15
Character Range: 12221–13425

15  Authorisation for Housing Australia
 (1) Housing Australia is authorised to invest relevant money for which Housing Australia is responsible in accordance with this section.
 (2) Housing Australia may invest money in one or more of the following ways:
 (a) in securities issued by an approved bank;
 (b) on deposit with, or in securities issued or guaranteed by, an approved entity.
 (3) Investments must be in the name of Housing Australia.
 (4) Subsections (5) to (7) apply if an investment:
 (a) is covered by paragraph (2)(a) (securities issued by an approved bank); and
 (b) has a Standard and Poor's long‑term rating lower than A‑ (or the Moody's or Fitch's equivalent).
 (5) The investment, together with any other such investments of Housing Australia in the approved bank, must not exceed 10% of the total investments of Housing Australia.
 (6) The investment, together with any other such investments of Housing Australia in any approved bank, must not exceed 25% of the total investments of Housing Australia.
 (7) The investment:
 (a) must not have a term longer than 3 years; and
 (b) if the investment has a term longer than 6 months—must be able to be traded in the secondary market.