75Investment policies

75 Investment policies

(1) The Board must formulate written policies to be complied with by Corporation bodies in relation to the following matters: (a) in the case of the Corporation—the strategy of the Corporation in relation to: (i) the Corporation’s investment functions; and (ii) the Corporation’s investment powers; (aa) in the case of the Corporation—the impact of investments of the Corporation on First Nations Australians; (b) in the case of the Corporation—benchmarks and standards for assessing the performance of the investments of the Corporation and of the Corporation itself; (c) in the case of the Corporation—risk management for the investments of the Corporation and for the Corporation itself; (ca) in the case of the Corporation—environmental, labour, social and governance matters to be considered by the Corporation in relation to: (i) the Corporation’s investment functions; and (ii) the Corporation’s investment powers; (d) in the case of a designated subsidiary of the Corporation—the strategy of the designated subsidiary in relation to: (i) the Corporation’s investment functions being performed through the designated subsidiary; and (ii) the designated subsidiary’s investment powers; (da) in the case of a designated subsidiary of the Corporation—the impact of investments of the designated subsidiary on First Nations Australians; (e) in the case of a designated subsidiary of the Corporation—benchmarks and standards for assessing the performance of the investments of the designated subsidiary and of the designated subsidiary itself; (f) in the case of designated subsidiary of the Corporation—risk management for the investments of the designated subsidiary and for the designated subsidiary itself; (fa) in the case of a designated subsidiary of the Corporation—environmental, labour, social and governance matters to be considered by the designated subsidiary in relation to: (i) the Corporation’s investment functions being performed through the designated subsidiary; and (ii) the designated subsidiary’s investment powers; (g) a matter specified in the rules.

Note: For variation and revocation, see subsection 33(3) of the Acts Interpretation Act 1901.

(2) The Board must ensure that the policies are consistent with the Investment Mandate. (3) The Board must cause copies of the policies to be published on the Corporation’s website. (4) The Board must ensure that the first policies are published as soon as practicable after the commencement of this section. (5) The Board must conduct periodic reviews of the policies. (6) If there is a change in the Investment Mandate, the Board must review any affected policies. (7) A Corporation body must comply with the policies. (8) A failure to comply with a policy does not affect the validity of any transaction. (9) A policy formulated under subsection (1) is not a legislative instrument.