Distribution of income of common funds

In force

(1)

Subject to subsection (2), the University must, in accordance with the instrument that established the investment common fund, periodically distribute income from each investment common fund among the funds participating in the pool.

(2)

From time to time, the University, if it considers it expedient to do so, may—

(a)

add some portion of the income of each investment common fund to the capital of the common fund; or

(b)

establish a fund or funds as a provision against capital depreciation or reduction in income.

This Act’s bill:Second reading speech

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47 Distribution of income of common funds