Document ID: chunk:federal_register_of_legislation:F2024L01130:reg:7
Version: federal_register_of_legislation:F2024L01130
Segment Type: reg
Provision Reference: reg 7
Character Range: 5288–6589

7  Authorisation for the Export Finance and Insurance Corporation
 (1) The Export Finance and Insurance Corporation is authorised to invest relevant money for which the Corporation is responsible in accordance with this section.
 (2) The Corporation may invest money in one or more of the following ways:
 (a) in securities issued by an approved bank;
 (b) on deposit with, or in securities issued or guaranteed by, an approved entity.
 (3) Investments must be in the name of the Corporation.
 (4) Subsections (5) to (7) apply if an investment:
 (a) is covered by paragraph (2)(a) (securities issued by an approved bank); and
 (b) has a Standard and Poor's long‑term rating lower than A‑ (or the Moody's or Fitch's equivalent).
 (5) The investment, together with any other such investments of the Corporation in the approved bank, must not exceed 10% of the total investments of the Corporation.
 (6) The investment, together with any other such investments of the Corporation in any approved bank, must not exceed 25% of the total investments of the Corporation.
 (7) The investment:
 (a) must not have a term longer than 3 years; and
 (b) if the investment has a term longer than 6 months—must be able to be traded in the secondary market.

Part 4—The Grains Research and Development Corporation