239AInvestment of money in trust funds

239A Investment of money in trust funds

239A Investment of money in trust funds

(1) The Minister is to invest money in a trust fund—

(a) if the Minister is a GSF agency for the purposes of Part 6 of the Government Sector Finance Act 2018—in any way that the Minister is permitted to invest money under that Part, or

(b) if the Minister is not a GSF agency for the purposes of Part 6 of the Government Sector Finance Act 2018—in any way authorised for the investment of trust funds or approved by the Treasurer.

(2) The proceeds of investment of money in a trust fund is to be paid into that fund.

(3) Money in the trust funds may be invested as a common pool. The proceeds of investments are to be distributed rateably among the trust funds that contributed money to the common pool according to the amount contributed.

(4) In subsection (3), trust fund includes the trust fund established under section 157.

s 239A: Ins 1997 No 153, Sch 3. Am 2018 No 70, Sch 3.24 [2].