Document ID: chunk:federal_register_of_legislation:C2004A03971:section:1990:p24
Version: federal_register_of_legislation:C2004A03971
Segment Type: section
Provision Reference: s 1990 (pt 24/38)
Character Range: 77614–80345

determined, and any directions given, by the Board.

"(3) Anything done by the Commissioner in the name of, or on behalf of, the Board is to be taken to have been done by the Board.".

Objective and duties of Trust

24. Section 29a of the Principal Act is amended:

(a) by inserting after subsection (1) the following subsections:

"(1a) In addition to its functions under subsection (1), the Trust may:

       (a) give advice with respect to the management, the investment, or the management of the investment, of:

           (i) any funds of a Commonwealth or Territory body; or

            (ii) any funds held in trust for the benefit of a Commonwealth or Territory body; or

           (iii) any funds held in trust for the purposes of a superannuation scheme established by a person or body for the benefit of persons employed by the Commonwealth or by a Commonwealth or Territory body; or

           (iv) any funds of, or any funds held in trust for the benefit of, any other person or body; or

       (b) undertake, as an investment manager, to invest, and manage the investment of:

           (i) any funds mentioned in subparagraph (a) (i), (ii) or (iii); or

           (ii) any funds mentioned in subparagraph (a) (iv); or

       (c) in the course of, or for the purposes of:

           (i) trade and commerce with other countries; or

            (ii) trade and commerce among the States; or

           (iii) trade and commerce between a State and a Territory or between Territories; or

            (iv) trade and commerce within a Territory;

       give advice of a kind mentioned in paragraph (a), or do any of the things mentioned in paragraph (b), in relation to any funds; or

       (d) for the purpose of assisting corporations (being foreign corporations, or trading or financial corporations, to

       which paragraph 51 (xx) of the Constitution applies), give advice of a kind mentioned in paragraph (a), or do any of the things mentioned in paragraph (b), in relation to any funds.

"(1b) In subsection (1a):

'Commonwealth or Territory body' means:

       (a) a body corporate incorporated for a public purpose by an Act or regulations made under an Act or by a law of a Territory; or

       (b) an authority or body, not being a body corporate, established for a public purpose by, or under, an Act or regulations made under an Act or by or under a law of a Territory; or

       (c) a company or other body corporate incorporated under an Act or a law of a State or Territory, being a company or body corporate in which the Commonwealth has a controlling interest; or

       (d) a company or other body corporate incorporated under an Act or a law of a State or Territory, being a company