sec.42Investment power depends on allocation under regulation

### sec.42 Investment power depends on allocation under regulation A statutory body may invest under this part depending on whether a category 1, 2 or 3 investment power is allocated to the body. A regulation may allocate to a statutory body 1 of the following powers— category 1 investment power category 2 investment power category 3 investment power. However, if a statutory body has control of more than 1 fund (including, for example, as a trustee), a different category of investment power for each fund may be allocated to it. Also, if no category of investment power is allocated under a regulation to a statutory body, the body does not have power to invest under this part. s 42 sub 1996 No. 54 s 8 (sec.42-ssec.1) A statutory body may invest under this part depending on whether a category 1, 2 or 3 investment power is allocated to the body. (sec.42-ssec.2) A regulation may allocate to a statutory body 1 of the following powers— category 1 investment power category 2 investment power category 3 investment power. (sec.42-ssec.3) However, if a statutory body has control of more than 1 fund (including, for example, as a trustee), a different category of investment power for each fund may be allocated to it. (sec.42-ssec.4) Also, if no category of investment power is allocated under a regulation to a statutory body, the body does not have power to invest under this part. - • category 1 investment power - • category 2 investment power - • category 3 investment power.