Investments
16 Investments
A charitable organisation must not invest monies belonging to the organisation unless —
the monies are deposited with —
an authorised deposit‑taking institution as defined in the Banking Act 1959 (Cth) section 5(1); or
a person for which a determination under the Banking Act 1959 (Cth) section 11 provides that section 7(1) or 8(1) of that Act (as the case requires) does not apply to that person;
or
the organisation, in making the investment, exercises the care, diligence and skill that a prudent person would exercise in managing the financial affairs of other persons.
Penalty: a fine of $1 000.
[Regulation 16 inserted: SL 2020/120 r. 9; amended: SL 2026/153 r. 11.]
[17. Deleted: SL 2020/120 r. 10.]
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