Commonwealth Numbered Acts

AUSTRALIA COUNCIL AMENDMENT ACT 1980 No. 114 of 1980 - SECT 21

21. After section 36 of the Principal Act the following section is inserted:
Investment

"36A. (1) The Council may invest moneys in the course of the direct
performance of its functions.



"(2) Moneys of the Council that are not immediately required to be expended
may be invested-

   (a)  on deposit with a bank that is an approved bank within the meaning of
        section 35;

   (b)  in securities of the Commonwealth; or

   (c)  in any other manner approved by the Treasurer.



"(3) The Council shall not invest moneys otherwise than in accordance with
this section.".