Public Governance, Performance and Accountability (Consequential and Transitional Provisions) Act 2014 (62 of 2014)

Schedule 10 Amendments of Acts starting with M or N

Repeal the subsection, substitute:

Investment

(2) The representative body may invest money received by it under this Division if:

(a) the money is not immediately required for the purposes of the body; and

(b) the money is invested:

(i) on deposit with a bank, including a deposit evidenced by a certificate of deposit; or

(ii) in securities of, or securities guaranteed by, the Commonwealth, a State or a Territory; or

(iii) in any other manner approved by the Finance Minister in writing.