Commonwealth Consolidated Acts

DISASTER READY FUND ACT 2019 - SECT 47

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

  (a)   protecting the value of an investment of the Disaster Ready Fund (other than a derivative); or

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

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

  (d)   achieving transactional efficiency for a purpose in connection with the Disaster Ready Fund;

but must not acquire a derivative for the purpose of speculation or leverage.

  (2)   The acquisition of a derivative under subsection   (1) of this section must be consistent with the investment strategy embodied in a policy formulated by the Future Fund Board under subsection   46(1).

  (3)   A derivative acquired under subsection   (1) of this section 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 Disaster Ready Fund.