Queensland Consolidated Acts

STATUTORY BODIES FINANCIAL ARRANGEMENTS ACT 1982 - SECT 52

52 Requirements if an investment arrangement’s rating changes

(1) This section applies if a statutory body has invested in an investment arrangement as mentioned in section 44 (1) (e) or 45 (c) and the rating of the investment arrangement is changed so it is no longer a rating prescribed under a regulation for the investment arrangement.

(2) As soon as practicable, but no later than 28 days, after the change becomes known to the statutory body, it must—

(a) obtain the Treasurer’s approval for continuing with the investment arrangement; or

(b) liquidate the investment arrangement, including, for example, withdrawing a deposit.