Document ID: chunk:federal_register_of_legislation:C2024C00295:section:47
Version: federal_register_of_legislation:C2024C00295
Segment Type: section
Provision Reference: s 47
Character Range: 60247–61276

47  Derivatives
 (1) The Future Fund Board may acquire a derivative for the purpose of:
 (a) protecting the value of an investment of the Disaster Ready Fund (other than a derivative); or
 (b) protecting the return on an investment of the Disaster Ready Fund (other than a derivative); or
 (c) achieving indirect exposure to financial assets (other than derivatives) for a purpose in connection with the Disaster Ready Fund; or
 (d) achieving transactional efficiency for a purpose in connection with the Disaster Ready 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 46(1).
 (3) A derivative acquired under subsection (1) of this section 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 Disaster Ready Fund.