Document ID: chunk:federal_register_of_legislation:F2024L01130:reg:8
Version: federal_register_of_legislation:F2024L01130
Segment Type: reg
Provision Reference: reg 8
Character Range: 6589–7879

8  Authorisation for the Grains Research and Development Corporation
 (1) The Grains Research and Development Corporation is authorised to invest relevant money for which the Corporation is responsible in accordance with this section.
 (2) The Corporation may invest in one or more of the following:
 (a) bills of exchange accepted or endorsed only by an approved bank;
 (b) dematerialised securities that are the equivalent of the bills of exchange covered by paragraph (a);
 (c) certificates of deposit with an approved bank;
 (d) dematerialised securities that are the equivalent of the certificates of deposit covered by paragraph (c);
 (e) floating rate notes issued by an approved bank under a senior debt program;
 (f) dematerialised securities that are the equivalent of the floating rate notes covered by paragraph (e);
 (g) 11 am call deposits with an approved bank.
 (3) Investments must be:
 (a) in the name of the Corporation; and
 (b) denominated in Australian currency.
 (4) If an investment is covered by paragraph (2)(e) or (f), the investment, together with any other investments of the Corporation covered by either of those paragraphs, must not exceed 20% of the total investments of the Corporation.

Part 5—The Rural Industries Research and Development Corporation