Queensland Consolidated Acts

STATUTORY BODIES FINANCIAL ARRANGEMENTS ACT 1982 - SECT 47

47 Statutory body to try to invest at most advantageous rate

(1) A statutory body must use its best efforts to invest its funds—

(a) at the most advantageous interest rate available to it at the time of the investment for an investment of the proposed type; and

(b) in a way it considers is most appropriate in all the circumstances.

(2) The statutory body must keep records that show it has invested in the way most appropriate in all the circumstances.