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STATUTORY BODIES FINANCIAL ARRANGEMENTS ACT 1982 - SECT 46
Category 3 investment power
46 Category 3 investment power
(1) Category 3 investment power includes category 2 investment power and the
power to invest in all or any of the following, regardless of the period of
the investment— (a) the first legal or first statutory mortgage of an estate
in fee simple in land in any State;
(b) the purchase of— (i) land in fee
simple in any State; or
(ii) leasehold land in the State held under a lease
that is for a term of 40 years or more and that is unexpired at the time of
the purchase; or
(iii) subject to the Land Act 1994 , a freeholding lease of
land held from the State under that Act;
(c) debentures or other securities
charged on the funds or property of a local government;
(d) an investment
arrangement prescribed under a regulation for this paragraph.
(2) In this
section—
"freeholding lease" means— (a) a pre-Wolfe freeholding lease, or
post-Wolfe freeholding lease, that was an agricultural farm under the repealed
Land Act 1962 ; or
(b) a grazing homestead freeholding lease.
"grazing homestead freeholding lease" see Land Act 1994 , schedule 6 .
"post-Wolfe freeholding lease" see Land Act 1994 , schedule 6 .
"pre-Wolfe freeholding lease" see Land Act 1994 , schedule 6 .
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