Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For the purposes of paragraph (a) of subsection (4) of section 12 of the Act, an investment of moneys of the Fund in a debenture of a kind referred to in paragraph (d) of subsection (2) of that section is permitted if, before making the investment, the Board obtains and considers advice from an expert adviser as to the suitability for the Fund, having regard to the purposes of the Fund, of the proposed investment.
(2) In subregulation (1), 'expert adviser', in relation to a proposed investment, means a person (including a body corporate) whom the Board, having regard to the competence and experience in financial matters of the person, chooses to give advice to the Board in relation to that proposed investment, but does not include a person who is a member, or a deputy of a member, of the Board or a member of the staff of the Board.