10Constitution and functions of Management Committee

10 Constitution and functions of Management Committee

10 Constitution and functions of Management Committee

(1) There is constituted by this section a Management Committee consisting of—

(a) the Secretary, and

(b) another officer of the Treasury appointed by the Secretary, and

(c) the Chairperson of the STC Board or his or her nominee, and

(d) the Chief Executive of the Treasury Corporation or his or her nominee, and

(e) at least one other person (who is not an officer of the Treasury) appointed by the Treasurer.

(2) The Management Committee is to advise the Secretary in relation to the management of the Liability Management Fund, including—

(a) investment strategy, and

(b) appointment of asset custodians, consultants, investment managers and other service providers, and

(c) monitoring and reviewing the performance of assets, investments and service providers.

(3) The Management Committee is to review from time to time the long term fiscal target to eliminate total State sector unfunded superannuation liabilities by 30 June 2030.