38Investment of certain public money

38 Investment of certain public money (1) The Treasurer may invest any money held in the territory banking account or directorate banking accounts for the period and on the terms and conditions the Treasurer considers appropriate— (a) on deposit with an authorised deposit-taking institution; or (b) in the purchase of a bill of exchange that is drawn or accepted by an authorised deposit-taking institution; or (c) in a loan to a person who is a dealer in the short-term money market; or (d) in Territory, State or Commonwealth securities; or (e) in any investment prescribed under the financial management guidelines for this paragraph. (2) However, an investment may be made under this section only to increase or protect the financial wealth of the Territory. (3) Transfers of money for investment, including transfers between the territory banking account and directorate banking accounts to facilitate investment, may be made without appropriation. (4) Returns from the investment of public money under this section must be paid to the territory banking account.

(5) Any fees or expenses reasonably incurred in making or managing an investment of public money may be deducted from the investment. (6) The Treasurer may decide the amounts of returns from investments under this section that are to be credited to directorate banking accounts. (7) The amounts decided by the Treasurer may be paid from the territory banking account without further appropriation.

Borrowing and guarantees Part 6