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NATIONAL RECONSTRUCTION FUND CORPORATION ACT 2023 - SECT 77

Derivatives

  (1)   The Corporation may acquire a derivative for the purpose of:

  (a)   protecting the value of an investment of the Corporation (other than a derivative); or

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

  (c)   achieving indirect exposure to one or more equity interests for a purpose in connection with the Corporation's investment functions; or

  (d)   achieving transactional efficiency for a purpose in connection with the Corporation's investment functions;

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 Board under subsection   75(1).

 



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