Public Bank Account, investment of
37 Public Bank Account, investment of
The Treasurer may invest any money standing to the credit of the Public Bank Account in a manner prescribed by the regulations.
Regulations made for the purposes of subsection (1) are not to provide that money may be invested otherwise than in a manner that trust funds may be invested under the Trustees Act 1962 Part III.
A withdrawal of money for the purposes of investment under subsection (1) does not have to be charged to any of the accounts forming part of the Public Ledger.
Subject to section 38(8), subsection (1) is in addition to, and does not limit, a written law concerning the investment of particular money.
This provision refers to the regulations (prescribed by the regulations
). Made under this Act:
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