Pooled Development Funds Act 1992
A PDF must carry on a business of making and holding PDF investments.
29(2) [PDF transactions]A PDF must not enter into a transaction except:
(a) in the course of, or for the purposes of, carrying on a business of making and holding PDF investments; or
(aa) as allowed by section 32A (which deals with mergers of PDFs); or
(b) with the Board ' s approval.
View history note
Hide history noteSubsection (2) neither allows a PDF to do, nor empowers the Board to approve a PDF doing, something that the PDF is prohibited from doing under another provision of this Part.
29(4) [PDF realising investment]Subject to subsection (2), nothing in subsection (1) prevents a PDF from realising a particular investment.
29(5) [Allowable PDF activities]Nothing in this section prohibits a PDF from doing something in the course of, or for the purposes of:
(a) providing management assistance to a company in which the PDF holds a PDF investment; or
(b) complying with a direction under subsection 33(2) , 34(1) or 35(1) ; or
(c) making, holding, or disposing of, an unregulated investment.
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