Bond University Act 1987

The university company may establish 1 or more investment common funds for the investment of moneys held by it in any form of investment authorised by its memorandum of association, whether or not the investment is an authorised trustee investment.

Subject to express direction in or express condition of any trust binding upon it in respect of particular moneys, the university company may, from time to time without liability for breach of trust, bring into or withdraw from any such investment common fund the whole or any part of trust moneys or other moneys of the university company.

Subject to subsections (4) and (5) the university company shall periodically distribute the income of each investment common fund among the funds participating in the common fund, having regard to the extent of the participation of each fund in the common fund during the relevant accounting period.

In any case where the university company has brought into an investment common fund moneys that have been received by it to be expended for a stated purpose but that cannot or will not be expended for that purpose forthwith, there may be paid into the general funds of the university company and therein utilised the whole or any part of that part of the income of that investment common fund which is attributable to the participation of those moneys in that fund and which is not required for that stated purpose.

The university company may, if it considers it expedient so to do, from time to time add some portion of the income of an investment common fund to the capital of the common fund or use some portion of the income to establish or augment a fund or funds as a provision against capital depreciation or reduction of income.