Northern Territory Numbered Acts Northern Territory Numbered Acts(1) A council or local government subsidiary may invest money not immediately required for the purposes of the council or local government subsidiary.
(2) The Minister may, after consultation with the Treasurer, issue investment guidelines.
(3) A council may, by resolution, adopt a policy for investing money that is consistent with this Act and the Minister's guidelines.
(4) A local government subsidiary may adopt a policy for investing money, approved by the constituent council or councils, that is consistent with this Act and the Minister's guidelines.
(5) An investment must be in accordance with the council's policy or the local government subsidiary's policy for investing money.
(6) If the council or local government subsidiary do not have a policy for investing money, the council or local government subsidiary may only invest money by banking money in an interest bearing account with an ADI.