Treasurer may authorise investment common funds
47 Treasurer may authorise investment common funds
The
Treasurer may, after consultation with the Minister, authorise the establishment of 1 or more investment common funds for the collective investment of 2 or more industry funds (in whole or in
part).
The collective investment of funds under this section does not affect any purposes for which a particular industry fund must be applied.
A common fund under this section will operate subject to any policies and guidelines (if any) determined by the Treasurer after consultation with the Minister.
Without limiting subsection (3), a policy or guideline may provide for 1 or more of the following:
the periodic distribution of income from a common investment fund to the relevant industry funds;
the application of income from a common investment fund to the capital of the common investment fund;
the payment of costs and the application of expenses related to the management, operation and investment of a common investment fund.
This Act’s bill:Second reading speech
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