Commonwealth Numbered Acts

HIGHER EDUCATION ENDOWMENT FUND ACT 2007 (NO. 160, 2007) - SECT 53

Higher Education Endowment Fund Investment Mandate

             (1)  If the responsible Ministers propose to:

                     (a)  give a direction under subsection 24(1); or

                     (b)  vary or revoke a direction given under subsection 24(1);

the responsible Ministers must:

                     (c)  consider whether they should:

                              (i)  make rules under subsection 47(1); or

                             (ii)  vary or revoke rules made under subsection 47(1); and

                     (d)  consult the Future Fund Board about whether the responsible Ministers should:

                              (i)  make rules under subsection 47(1); or

                             (ii)  vary or revoke rules made under subsection 47(1).

Maximum Grant Rules

             (2)  If the responsible Ministers propose to:

                     (a)  make rules under subsection 47(1); or

                     (b)  vary or revoke rules made under subsection 47(1);

the responsible Ministers must:

                     (c)  consider whether they should:

                              (i)  give a direction under subsection 24(1); or

                             (ii)  vary or revoke a direction given under subsection 24(1); and

                     (d)  consult the Future Fund Board about whether the responsible Ministers should:

                              (i)  give a direction under subsection 24(1); or

                             (ii)  vary or revoke a direction given under subsection 24(1).