sec.47Statutory body to try to invest at most advantageous rate

### sec.47 Statutory body to try to invest at most advantageous rate A statutory body must use its best efforts to invest its funds— at the most advantageous interest rate available to it at the time of the investment for an investment of the proposed type; and in a way it considers is most appropriate in all the circumstances. The statutory body must keep records that show it has invested in the way most appropriate in all the circumstances. s 47 amd 1984 No. 92 s 8 ; 1988 No. 55 s 16 ; 1990 No. 88 s 3 sch ; 1994 No. 31 s 6 sch 2 sub 1996 No. 54 s 8 (sec.47-ssec.1) A statutory body must use its best efforts to invest its funds— at the most advantageous interest rate available to it at the time of the investment for an investment of the proposed type; and in a way it considers is most appropriate in all the circumstances. (sec.47-ssec.2) The statutory body must keep records that show it has invested in the way most appropriate in all the circumstances. - (a) at the most advantageous interest rate available to it at the time of the investment for an investment of the proposed type; and - (b) in a way it considers is most appropriate in all the circumstances.