Commonwealth Consolidated Acts

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DISABILITYCARE AUSTRALIA FUND ACT 2013 - SECT 36

Derivatives

  (1)   The Future Fund Board may acquire a derivative for the purpose of:

  (a)   protecting the value of an investment of the DisabilityCare Australia Fund (other than a derivative); or

  (b)   protecting the return on an investment of the DisabilityCare Australia Fund (other than a derivative); or

  (c)   achieving indirect exposure to financial assets (other than derivatives) for a purpose in connection with the DisabilityCare Australia Fund; or

  (d)   achieving transactional efficiency for a purpose in connection with the DisabilityCare Australia Fund;

but must not acquire a derivative for the purpose of:

  (e)   speculation; or

  (f)   leverage.

  (2)   The acquisition of a derivative under subsection   (1) must be consistent with the investment strategy embodied in a policy formulated by the Future Fund Board under subsection   35(1).

  (3)   A derivative acquired under subsection   (1) is to be held in the name of the Future Fund Board.

  (4)   A derivative acquired under subsection   (1) is taken to be an investment of the DisabilityCare Australia Fund.



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