Queensland Consolidated Acts

STATUTORY BODIES FINANCIAL ARRANGEMENTS ACT 1982 - SECT 42

42 Investment power depends on allocation under regulation

(1) A statutory body may invest under this part depending on whether a category 1, 2 or 3 investment power is allocated to the body.

(2) A regulation may allocate to a statutory body 1 of the following powers—

• category 1 investment power

• category 2 investment power

• category 3 investment power.

(3) However, if a statutory body has control of more than 1 fund (including, for example, as a trustee), a different category of investment power for each fund may be allocated to it.

(4) Also, if no category of investment power is allocated under a regulation to a statutory body, the body does not have power to invest under this part.