Document ID: chunk:federal_register_of_legislation:C2019A00046:section:12
Version: federal_register_of_legislation:C2019A00046
Segment Type: section
Provision Reference: s 12
Character Range: 6664–8078

12  Investments of the Fund
 (1) The Minister may, on behalf of the Commonwealth, invest amounts standing to the credit of the Account in any authorised debt security.
 (2) Investments under subsection (1) are taken to be investments of the Fund.
 (3) At any time before an investment of the Fund matures, the Minister may, on behalf of the Commonwealth, authorise the re‑investment of the proceeds upon maturity in an authorised debt security with the same entity. The new investment is taken to be an investment of the Fund.
 (4) An authorised debt security is a debt security that:
 (a) is issued by:
 (i) a trustee of a trust; or
 (ii) a body corporate that is a special purpose vehicle; and
 (b) is expressed in Australian dollars; and
 (c) relates to one or more amounts of credit provided (whether secured or unsecured) to one or more debtors where each such amount of credit:
 (i) is provided wholly or predominantly for business purposes; and
 (ii) is less than $5 million or, if the rules prescribe another amount of money, is less than that amount; and
 (iii) complies with any other requirements or restrictions prescribed by the rules; and
 (d) complies with any other requirements or restrictions prescribed by the rules.
 (5) Section 58 of the Public Governance, Performance and Accountability Act 2013 (which deals with investment by the Commonwealth) does not apply to an investment of the Fund.