Commonwealth Consolidated Acts

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FUTURE FUND ACT 2006 - SECT 32

Realisation of non - financial assets

  (1)   If an asset held by the Board as an investment of the Fund ceases to be a financial asset:

  (a)   the Board must realise the asset as soon as practicable after the Board becomes aware of the cessation; and

  (b)   this Act (other than this section) applies in relation to the asset (including in relation to the realisation of the asset) as if the asset had remained a financial asset, and an investment of the Fund, until the realisation.

  (2)   If an asset acquired by the Board, purportedly as an investment of the Fund, is not a financial asset:

  (a)   the Board must realise the asset as soon as practicable after the Board becomes aware that the asset is not a financial asset; and

  (b)   this Act (other than this section) applies in relation to the asset (including in relation to the realisation of the asset) as if the asset had been a financial asset, and an investment of the Fund, from the time of its acquisition by the Board until the realisation.



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