41
CurrentDistribution of income of investment common funds
41 Distribution of income of investment common funds
(1)
Subject to subsection (2), the University must periodically distribute the income of each investment common fund among the funds participating in the pool having regard to the extent of the participation by each fund during the relevant accounting period.
(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:Explanatory memorandumSecond reading speech
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