435
CurrentPowers of investment for non‑Commonwealth trustee
Chapter 11Miscellaneous
Part 6General
435 Powers of investment for non‑Commonwealth trustee
(1)
This section applies if a trustee appointed under section 432 in respect of payments of compensation or other benefits mentioned in paragraph 432(1)(a) is not the Commonwealth or an APS employee.
(2)
The trustee may invest any trust funds not applied under paragraph 433(3)(a) in any investments authorised for the investment of trust funds by the law of the State or Territory where the person who is entitled to the compensation or other benefit resides.
This Act’s bill:Explanatory memorandumSecond reading speech
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