Particular State assets given for purpose of contributing to Queensland Future Fund must be held by State
8 Particular State assets given for purpose of contributing to Queensland Future Fund must be held by State
This section applies in relation to a prescribed State asset that is given by a State entity to another State entity for the purpose of contributing an investment to a Queensland Future Fund.
The prescribed State asset must be held, directly or indirectly, by a State entity in perpetuity.
In this section—
prescribed State asset means an asset or part of an asset, or an interest in an asset or part of an asset, that—
immediately before being given to a State entity for the purpose of contributing an investment to a Queensland Future Fund, is held, directly or indirectly, by a State entity; and
is prescribed by regulation to be a prescribed State asset.
State entity means—
a government entity under the Public Sector Act 2022, section 276; or
a government owned corporation.
This Act’s bill:Explanatory memorandumSecond reading speech
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