Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Board may formulate a written policy in relation to the following matters:
(a) the investment strategy of the Gallery;
(b) benchmarks and standards for assessing the performance of the Gallery's investments;
(c) risk management for the Gallery's investments.
Note: For variation and revocation, see subsection 33(3) of the Acts Interpretation Act 1901 .
Publication of policy
(2) If the Board formulates a policy under subsection (1), the Board must cause a copy of the policy to be published on the Gallery's website.
Review of policy
(3) If the Board formulates a policy under subsection (1), the Board must conduct periodic reviews of the policy.
Compliance with policy
(4) If the Board formulates a policy under subsection (1), the Gallery must comply with the policy.
(5) A failure to comply with the policy does not affect the validity of any transaction.
Policy not a legislative instrument
(6) A policy formulated under subsection (1) is not a legislative instrument.