QLDIn ForceAct
Royal National Agricultural and Industrial Association of Queensland Act 1971
sec.15Investment of Association’s funds
Start here
Get a plain-English read of sec.15
Turn the raw legal text into a practical explanation grounded in Royal National Agricultural and Industrial Association of Queensland Act 1971.
### sec.15 Investment of Association’s funds
Subject to its rules, regulations and by-laws and to the terms of any trust affecting its funds and to any direction or restriction attached or imposed with respect thereto by a donor thereof, the Association may invest its funds or any part thereof in any investment authorised by resolution of the Council whether the investment be an authorised trustee investment or not.
The Association may accept and hold any investment that is transferred to the Association otherwise than by way of purchase notwithstanding that the investment is not of the nature authorised by subsection (1) .
(sec.15-ssec.1) Subject to its rules, regulations and by-laws and to the terms of any trust affecting its funds and to any direction or restriction attached or imposed with respect thereto by a donor thereof, the Association may invest its funds or any part thereof in any investment authorised by resolution of the Council whether the investment be an authorised trustee investment or not.
(sec.15-ssec.2) The Association may accept and hold any investment that is transferred to the Association otherwise than by way of purchase notwithstanding that the investment is not of the nature authorised by subsection (1) .