Document ID: chunk:federal_register_of_legislation:C2022C00261:section:52:p7
Version: federal_register_of_legislation:C2022C00261
Segment Type: section
Provision Reference: s 52 (pt 7/48)
Character Range: 47670–50402

Fund.

Investment of the Fund

10. (1) For the purposes of this clause:
     (a) "invest" means expend moneys with a view to obtaining a present or future financial return (whether by way of income, profit or otherwise); and
     (b) "profit" includes capital profit.

(2) Moneys standing to the credit of the Fund which CSC, after consultation with its investment manager, is of the opinion are moneys that are not for the time being required for the purpose of making payments out of the Fund under the Act and the Deed shall, so far as is practicable, be invested by CSC in accordance with the Act and the Deed, but CSC shall so manage the Fund that moneys that are from time to time required to pay benefits that are payable out of the Fund are available for that purpose.

(3) Moneys that, by virtue of subclause (2), are required to be invested by CSC may be invested in any manner and, without limiting the generality of the foregoing, may be invested by CSC jointly with another person or other persons.

(4) CSC must determine an investment strategy and policy as soon as possible after 1 October 1991 and thereafter regularly review such a strategy and policy, and, where it considers necessary or desirable, change its existing investment strategy or policy. In determining and reviewing its investment strategy and policy, CSC shall consult with such persons or bodies as it thinks fit.

(5) CSC shall invest moneys standing to the credit of the Fund that are available for investment only through an investment manager or managers who undertake to invest, and manage the investment of, those funds on behalf of CSC.

(6) CSC shall ensure that any investment manager:
     (a) operates within the investment powers of CSC and the investment strategy and policy as determined for the time being by CSC; and
     (b) reports to CSC on the state of the Board's investments and the investment market at such times and in such manner as CSC determines.

Requests by Minister for Information

11. CSC shall furnish to the Minister such information relating to the general administration and operation of the Superannuation Scheme and the Fund as the Minister may from time to time require.

Delegation by the CSC

12. CSC may by an instrument under its seal delegate all or any of its powers under the Deed to any person, including the Commissioner for Superannuation or a Trustee, other than its powers under Part 9 of the Rules and this power of delegation.

Military Superannuation and Benefits Rules

Table of Provisions
Part 1—Preliminary

Rule
          1. Citation
          2. Definitions and Interpretation
Part 2—Contributions

          3. Contributions by members
          4. Amount of contributions
          5.