Document ID: chunk:federal_register_of_legislation:C2024C00587:section:434
Version: federal_register_of_legislation:C2024C00587
Segment Type: section
Provision Reference: s 434
Character Range: 575055–576500

434  Powers of Commonwealth etc. trustee to invest trust funds
 (1) This section applies if a trustee appointed in respect of payments of compensation under section 432 is the Commonwealth or an employee of the Australian Public Service.
 (2) A trustee may invest any trust funds not applied for the benefit of a person in any manner prescribed by the regulations.
 (3) If a trustee is a trustee in respect of 2 or more persons who are entitled to compensation under this Act, then the trustee may pool those persons' trust funds for the purposes of investing the funds.
 (4) However, a trustee must not pool trust funds or invest pooled trust funds in a way that prevents the trust funds from being identified sufficiently to allow paragraph 433(3)(a) to be complied with.
 (5) A trustee in respect of payments of compensation may:
 (a) arrange for another person to manage the trust funds; and
 (b) transfer the funds to the other person for the purposes of the arrangement.
However, making an arrangement or transferring funds does not relieve the trustee of any duties or liabilities as trustee.
 (6) The Commonwealth:
 (a) may charge fees (whether by way of commission or otherwise) for the services of a trustee in respect of payments of compensation in accordance with the regulations; and
 (b) is entitled to reasonable expenses incurred by the trustee in rendering the services.
The fees and expenses may be paid from the trust funds.