Document ID: chunk:federal_register_of_legislation:C2020A00027:section:12
Version: federal_register_of_legislation:C2020A00027
Segment Type: section
Provision Reference: s 12
Character Range: 6636–7939

12  Investments of the Fund
 (1) The Minister may, on behalf of the Commonwealth and to further an object of this Act, invest amounts standing to the credit of the Account in:
 (a) any authorised debt security; or
 (b) any other investment, of a kind prescribed by the rules, that complies with the requirements or restrictions (if any) prescribed by the rules.
 (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, or an investment to which paragraph (1)(b) applies, 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; and
 (d) complies with the requirements or restrictions (if any) 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.