137Purposes of the Education Investment Fund Special Account—transitional

#### 137 Purposes of the Education Investment Fund Special Account—transitional Each of the following is a purpose of the Education Investment Fund Special Account: (a) paying the costs of, or incidental to, the acquisition of financial assets under Part 3 of the repealed Higher Education Endowment Fund Act 2007, where the costs were incurred before the commencement of this section; (b) paying expenses of an investment of the Education Investment Fund, where: (i) immediately before the commencement of this section, the investment was an investment of the Higher Education Endowment Fund; and (ii) the expense was incurred before the commencement of this section; (c) paying the costs of, or incidental to, the acquisition of derivatives under section 31 of the repealed Higher Education Endowment Fund Act 2007, where the costs were incurred before the commencement of this section; (d) paying or discharging the costs, expenses and other obligations incurred by the Future Fund Board under a contract between the Future Fund Board and an investment manager engaged under subsection 34(1) of the repealed Higher Education Endowment Fund Act 2007, where the costs, expenses or obligations were incurred before the commencement of this section; (e) paying or discharging the costs, expenses and other obligations incurred in connection with the establishment, maintenance or operation of a bank account of the Future Fund Board, where: (i) the bank account relates exclusively to the Higher Education Endowment Fund; and (ii) the costs, expenses or obligations were incurred before the commencement of this section; (f) paying a premium in respect of a contract of insurance entered into by the Future Fund Board exclusively in connection with the Higher Education Endowment Fund, where the liability to pay the premium was incurred before the commencement of this section; (g) paying or discharging any other costs, expenses, obligations or liabilities incurred by the Commonwealth exclusively in connection with the Higher Education Endowment Fund, where the costs, expenses, obligations or liabilities were incurred before the commencement of this section. > Note 1: See section 80 of the Public Governance, Performance and Accountability Act 2013 (which deals with special accounts). > Note 2: The Higher Education Endowment Fund was established by the repealed Higher Education Endowment Fund 2007.