Document ID: chunk:federal_register_of_legislation:C2023C00441:clause:1_7
Version: federal_register_of_legislation:C2023C00441
Segment Type: clause
Provision Reference: sch 1 cl 7
Character Range: 113976–114865

7  Transfers of financial assets to the Fund—gifts
 (1) The Board may accept a gift of one or more financial assets if the nominated Minister, by written notice given to the Board, authorises the acceptance of the gift.
 (2) A financial asset accepted under subclause (1) is taken to be an investment of the Fund.
 (3) A financial asset accepted under subclause (1) is taken to be transferred to the Board under that subclause.
 (4) To avoid doubt, if a financial asset is transferred to the Board under subclause (1), this Act does not prevent:
 (a) the realisation of the financial asset under section 17; or
 (b) the disposal of the financial asset under a securities lending arrangement entered into under section 27.
 (5) To avoid doubt, a financial asset may be transferred to the Board under subclause (1) even if the Commonwealth has a beneficial interest in the financial asset.