New South Wales Consolidated Acts

GOVERNMENT SECTOR FINANCE ACT 2018 - SECT 6.3

6.3 Authorisation to invest in government issued investments

(1) A trustee for a trust may (unless expressly forbidden by the trust instrument, if any, for the trust) invest trust money in government issued investments.

(2) A
"government issued investment" is any form of investment, borrowing or derivative arrangement issued or provided by or on behalf of the State or a GSF agency under the authority of this Part.

(3) An investment by the trustee may be made whether the money is at the time in a state of investment or not.

(4) An investment by the trustee is taken to be an investment of trust funds made in accordance with the Trustee Act 1925 .

(5) A GSF agency (or the accountable authority for a GSF agency or a government officer) is not competent to receive notice of an express, implied or constructive trust affecting any government issued investment or a coupon attached to it.

(6) A company, a council within the meaning of the Local Government Act 1993 or any other body corporate constituted by an Act may invest its money in government issued investments.