Young Men’s Christian Association of Sydney Incorporation Act 1906
9Power to invest funds
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9 Power to invest funds
9 Power to invest funds
It shall be lawful for the board of directors, from time to time, to invest any funds of the said body corporate which are not in the opinion of the said board required to defray the current expenses of the body corporate, and any moneys given or bequeathed to or arising from any donation of real or personal property to the body corporate, at the discretion of such board, in any Government funds or debentures of the Commonwealth of Australia, or of any state of the Commonwealth, or in any debentures or debenture stock of any municipal corporation in the said states, or by way of purchase of, or mortgage upon any freehold estate there, as well as in bank deposits for fixed periods or otherwise.