National Gallery Act 1975

The Council may formulate a written policy in relation to the following matters:

the investment strategy of the Gallery;

benchmarks and standards for assessing the performance of the Gallery’s investments;

risk management for the Gallery’s investments.

For variation and revocation, see subsection 33(3) of the Acts Interpretation Act 1901.

If the Council formulates a policy under subsection (1), the Council must cause a copy of the policy to be published on the Gallery’s website.

If the Council formulates a policy under subsection (1), the Council must conduct periodic reviews of the policy.

If the Council formulates a policy under subsection (1), the Gallery must comply with the policy.

A failure to comply with the policy does not affect the validity of any transaction.

A policy formulated under subsection (1) is not a legislative instrument.