28Investment managers

#### 28 Investment managers (1) The Board may engage one or more investment managers for purposes in connection with the Fund. (2) The Board must not: (a) invest amounts under subsection 16(1); or (b) acquire derivatives under subsection 25(1); or (c) enter into a securities lending arrangement under subsection 27(1); or (d) realise financial assets that are investments of the Fund; unless the Board does so: (e) through an investment manager engaged by the Board under subsection (1) of this section; or (f) in a manner approved, in writing, by the responsible Ministers. (3) The Board must ensure that any investment manager engaged by the Board under subsection (1) operates within this Act. (4) The Board must ensure that any investment manager engaged by the Board under subsection (1) reports to the Board and the Agency on the state of the investments of the Fund at such times and in such manner as the Board determines. (5) None of the following Acts: (a) this Act; (aa) the Future Drought Fund Act 2019; (ba) the DisabilityCare Australia Fund Act 2013; (bab) the Disaster Ready Fund Act 2019; (bac) the Housing Australia Future Fund Act 2023; (bb) the Medical Research Future Fund Act 2015; (bc) the Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018; prevent the same person from being engaged as an investment manager under 2 or more of the following provisions: (c) subsection (1) of this section; (ca) subsection 52(1) of the Future Drought Fund Act 2019; (g) subsection 39(1) of the DisabilityCare Australia Fund Act 2013; (ga) subsection 50(1) of the Disaster Ready Fund Act 2019; (gb) subsection 52(1) of the Housing Australia Future Fund Act 2023; (h) subsection 50(1) of the Medical Research Future Fund Act 2015; (i) subsection 43(1) of the Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018.