CTHRepealedAct
Australian Securities and Investments Commission Act 1989
142How trust property to be applied
Start here
Get a plain-English read of 142
Turn the raw legal text into a practical explanation grounded in Australian Securities and Investments Commission Act 1989.
#### 142 How trust property to be applied
(1) Notwithstanding section 135, money or other property that the Commission holds on trust shall be applied or dealt with in accordance with the Commission’s powers and duties as trustee, and not otherwise.
(2) Money that the Commission holds on trust may be invested in any manner in which:
(a) the terms of the trust authorise the Commission to invest the money; or
(b) a law in force in a State or internal Territory authorises trustees to invest trust funds.