Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 934

934. (1) Money in the Fund that, in the opinion of the Board, is not
immediately required for the purposes of SEGC may be invested by SEGC in a
permitted manner.

(2) Property in which money is invested under subsection (1) forms part of the
Fund.

(3) Subject to subsection (4), the Board may, with the approval of the
Commission, appoint a person to invest on behalf of SEGC money to which
subsection (1) applies.

(4) The Commission shall not grant approval to the appointment of a person
under subsection (3) unless it is satisfied that:

   (a)  the person has appropriate qualifications and expertise to perform the
        duties of the appointment; and

   (b)  SEGC has adequate indemnity insurance in respect of its liabilities
        for any negligence, or any defalcation or fraudulent misuse of
        property, by the person in the performance of those duties or has made
        other satisfactory provisions for meeting those liabilities.

(5) A person appointed under subsection (3) shall perform the duties of the
appointment in accordance with the directions of the Board and subject to such
conditions (if any) as the Board imposes.