Commonwealth Consolidated Acts

FUTURE FUND ACT 2006 - SECT 25

             (1)  The Board may acquire a derivative for the purpose of:

                     (a)  protecting the value of an investment of the Fund (other than a derivative); or

                     (b)  protecting the return on an investment of the Fund (other than a derivative); or

                     (c)  achieving indirect exposure to financial assets (other than derivatives) for a purpose in connection with the Fund; or

                     (d)  achieving transactional efficiency for a purpose in connection with the Fund;

but must not acquire a derivative for the purpose of:

                     (e)  speculation; or

                      (f)  leverage.

             (2)  The acquisition of a derivative under subsection (1) must be consistent with the investment strategy embodied in a policy formulated by the Board under subsection 24(1).

             (3)  A derivative acquired under subsection (1) is to be held in the name of the Board.

             (4)  A derivative acquired under subsection (1) is taken to be an investment of the Fund.