Australian Business Securitisation Fund Act 2019

The Minister may, by legislative instrument, give directions about the exercise of the Minister’s powers under section 12. The directions together constitute the Investment Mandate.

Section 42 (disallowance) and Part 4 of Chapter 3 (sunsetting) of the Legislation Act 2003 do not apply to the directions (see regulations made for the purposes of paragraphs 44(2)(b) and 54(2)(b) of that Act).

The Minister must comply with the Investment Mandate.

Without limiting subsection (1), the Investment Mandate may include directions about any of the following:

strategies and policies to be followed for making investments;

decision‑making criteria for making investments;

limits on making investments;

risk and return relating to investments;

governance arrangements relating to investments;

any other matters that the Minister thinks appropriate.

The Minister must not give a direction under subsection (1):

that has the purpose, or is likely to have the effect, of directly or indirectly requiring the Minister to make, or not to make, a particular investment; or

that is inconsistent with this Act (including the objects of this Act).