Public Governance, Performance and Accountability (Consequential and Transitional Provisions) Act 2014 (62 of 2014)
Schedule 7 Amendments of Acts starting with A
Australia Council Act 2013
160 Section 49
Repeal the section, substitute:
49 Investment
(1) The Council may invest money, under paragraph 10(2)(g), in the course of the direct performance of its functions.
Note: Paragraph 10(2)(g) gives the Council power to make investments, but only as a means of providing financial assistance. It does not give the Council a general power to make investments.
(2) Subsection (1) applies in addition to investment, under section 59 of the Public Governance, Performance and Accountability Act 2013, of money that is not immediately required for the purposes of the Council.
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