Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) The Board may establish such investment common funds for the collective investment of trust or other moneys of or in the custody of the School as it thinks fit.
(2) The Board may from time to time, without liability for breach of trust, bring into or withdraw from the investment common fund the whole or any part of moneys of the School trust moneys or other moneys held by or in the custody of the School.
(3) Subject to subsections (4) and (5), the Board shall periodically distribute the income of each investment common fund among the funds participating in the common fund, having regard to the extent of the participation of each fund in the common fund during the relevant accounting period.
(4) Where moneys received by the Board to be expended for a stated purpose have been brought into an investment account but cannot, or will not immediately, be expended for that purpose, the Board may pay into the general funds of the School the whole or any part of that part of the income of that investment common fund that is attributed to the participation of those moneys in that fund and which are not required for that stated purpose.
(5) The Board may, as it thinks fit, add such portion of the income of an investment account as it thinks fit to the capital of the common fund or use such portion of that income as it thinks fit to establish or augment a fund or funds as a provision against capital depreciation or reduction of income.
(6) Moneys of the School (whether forming part of a common fund or not), including moneys held on trust or subject to a condition, may be invested by the Board in an investment that the Treasurer is permitted to invest in under section 29 of the Financial Management Act 1995 .
(7) A power conferred on the Board by this section, or by a rule relating to investment of property, shall not be exercised by the Board in relation to a trust fund or other moneys where:
(a) the investment creating the trust expressly directs to the contrary; or
(b) the exercise of the power would constitute a breach of a condition under which the fund or moneys in question was or were acquired.