Document ID: chunk:federal_register_of_legislation:C2023C00407:section:40
Version: federal_register_of_legislation:C2023C00407
Segment Type: section
Provision Reference: s 40
Character Range: 52686–53914

40  Derivatives
 (1) The Future Fund Board may acquire a derivative for the purpose of:
 (a) protecting the value of an investment of the Aboriginal and Torres Strait Islander Land and Sea Future Fund (other than a derivative); or
 (b) protecting the return on an investment of the Aboriginal and Torres Strait Islander Land and Sea Future Fund (other than a derivative); or
 (c) achieving indirect exposure to financial assets (other than derivatives) for a purpose in connection with the Aboriginal and Torres Strait Islander Land and Sea Future Fund; or
 (d) achieving transactional efficiency for a purpose in connection with the Aboriginal and Torres Strait Islander Land and Sea Future Fund;
but must not acquire a derivative for the purpose of speculation or leverage.
 (2) The acquisition of a derivative under subsection (1) of this section must be consistent with the investment strategy embodied in a policy formulated by the Future Fund Board under subsection 39(1).
 (3) A derivative acquired under subsection (1) is to be held in the name of the Future Fund Board.
 (4) A derivative acquired under subsection (1) is taken to be an investment of the Aboriginal and Torres Strait Islander Land and Sea Future Fund.