Realisation of non‑financial assets
54 Realisation of non‑financial assets
This section applies if the Future Fund Board becomes aware of the fact that:
an asset held by the Board as an investment of the Housing Australia Future Fund has ceased to be a financial asset; or
an asset acquired by the Board, purportedly as an investment of the Housing Australia Future Fund, is not a financial asset.
The Future Fund Board must realise the asset as soon as practicable after the Board becomes aware of the fact.
This Act (other than this section) applies in relation to the asset (including in relation to the realisation of the asset) as if the asset had been a financial asset, and an investment of the Housing Australia Future Fund, from the time of its acquisition by the Future Fund Board until the realisation.
This Act’s bill:Explanatory memorandumSecond reading speech
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