Commonwealth Consolidated Acts

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AUSTRALIAN NUCLEAR SCIENCE AND TECHNOLOGY ORGANISATION ACT 1987 - SECT 39

Trust money

  (1)   The Organisation shall ensure that any money received or held by the Organisation on trust is paid into an account that does not contain any money of the Organisation not held on trust.

  (2)   Notwithstanding section   27:

  (a)   money or other property held by the Organisation on trust shall be applied or dealt with only in accordance with the powers and duties of the Organisation as trustee; and

  (b)   money held by the Organisation on trust may be invested:

  (i)   in any manner in which the Organisation is authorised to invest that money by the terms of the trust; or

  (ii)   in any manner in which trust money may, for the time being, be invested under law;

    but not otherwise.



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