Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Board may acquire a derivative for the purpose of:
(a) protecting the value of an investment of the Fund (other than a derivative); or
(b) protecting the return on an investment of the Fund (other than a derivative); or
(c) achieving indirect exposure to financial assets (other than derivatives) for a purpose in connection with the Fund; or
(d) achieving transactional efficiency for a purpose in connection with the Fund;
but must not acquire a derivative for the purpose of:
(e) speculation; or
(f) leverage.
(2) The acquisition of a derivative under subsection (1) must be consistent with the investment strategy embodied in a policy formulated by the Board under subsection 24(1).
(3) A derivative acquired under subsection (1) is to be held in the name of the Board.
(4) A derivative acquired under subsection (1) is taken to be an investment of the Fund.