Management of investments of the Housing Australia Future Fund
40 Management of investments of the Housing Australia Future Fund
Income derived from an investment of the Housing Australia Future Fund is to be credited to the Housing Australia Future Fund Special Account.
A return of capital, or any other financial distribution, relating to an investment of the Housing Australia Future Fund is to be credited to the Housing Australia Future Fund Special Account.
The Future Fund Board may realise an investment of the Housing Australia Future Fund.
Upon realisation of an investment of the Housing Australia Future Fund, the proceeds of the investment are to be credited to the Housing Australia Future Fund Special Account.
At any time before an investment of the Housing Australia Future Fund matures, the Future Fund Board may authorise the re‑investment of the proceeds upon maturity in a financial asset investment with the same entity. The new investment is taken to be an investment of the Housing Australia Future Fund.
Section 58 of the Public Governance, Performance and Accountability Act 2013 (which deals with investment by the Commonwealth) does not apply to an investment of the Housing Australia Future Fund.
This Act’s bill:Explanatory memorandumSecond reading speech
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