Commonwealth Numbered Acts

PAPUA NEW GUINEA (STAFFING ASSISTANCE) ACT 1973 No. 70, 1973 - SECT 42

42. (1) The moneys of a Fund shall, so far as is practicable, be invested by
the appropriate Board.

(2) Subject to sub-section (3), the moneys of a Fund may be invested-

   (a)  in any securities issued or guaranteed by the Commonwealth, a State,
        Papua New Guinea or a Territory;

   (b)  in any manner for the time being allowed by a law of the Commonwealth,
        of a State, of Papua New Guinea or of a Territory relating to the
        investment of trust funds; or

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

(3) Except with the approval of the Treasurer, the appropriate Board shall not
invest any moneys of a Fund at a rate of interest of less than three per
centum per annum.