194Investment of Authority Fund

194 Investment of Authority Fund

194 Investment of Authority Fund

For the purposes of section 277 of the Law, the National Authority may invest the Authority Fund—

(a) on deposit with any bank; and

(b) in securities of the Commonwealth or of a State or Territory; and

(c) in securities guaranteed by the Commonwealth or a State or Territory; and

(d) in any other manner that—

(i) is consistent with sound commercial practice; and

(ii) minimises the probability of capital losses over a 12 month period of investment—

to enhance the capacity of the National Authority to discharge its liabilities, costs, expenses and obligations.