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

Schedule 3   Repeal of the Commonwealth Authorities and Companies Act 1997

Part 2   Transitional and application provisions

6   Banking and investment

(1) Despite the repeal of subsections 18(2) and 19(2) of the CAC Act (which deal with banking and investment), those subsections continue to apply after the commencement time in relation to money received before that time.

(2) Surplus money that, immediately before the commencement time, is invested under section 18 or 19 of the CAC Act (which deals with banking and investment) is taken, after that time, to be relevant money invested under, and in accordance with, section 59 of the PGPA Act.

(3) An approval that is in force immediately before the commencement time under paragraph 18(3)(d) of the CAC Act is taken, after that time, to be a written authorisation given under subparagraph 59(1)(b)(iii) of the PGPA Act.