Commonwealth Numbered Acts

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HIGHER EDUCATION ENDOWMENT FUND ACT 2007 (NO. 160, 2007) - SECT 37

Realisation of non-financial assets

             (1)  If an asset held by the Future Fund Board as an investment of the Fund ceases to be a financial asset:

                     (a)  the Future Fund Board must realise the asset as soon as practicable after the Future Fund Board becomes aware of the cessation; and

                     (b)  this Act (other than this section) applies in relation to the asset (including in relation to the realisation of the asset) as if the asset had remained a financial asset, and an investment of the Fund, until the realisation.

             (2)  If an asset acquired by the Future Fund Board, purportedly as an investment of the Fund, is not a financial asset:

                     (a)  the Future Fund Board must realise the asset as soon as practicable after the Future Fund Board becomes aware that the asset is not a financial asset; and

                     (b)  this Act (other than this section) applies in relation to the asset (including in relation to the realisation of the asset) as if the asset had been a financial asset, and an investment of the Fund, from the time of its acquisition by the Future Fund Board until the realisation.



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