New South Wales Consolidated Acts

LIBRARY ACT 1939 - SECT 5C

5C Investment pools

(1) The Council may establish and maintain one or more investment pools for the collective investment of funds held by the Council whether or not those funds are, or any of those funds is, subject to a trust.

(2) The Council may from time to time bring into or withdraw from an investment pool the whole or any part of any fund referred to in subsection (1).

(3) Notwithstanding subsections (1) and (2), the Council shall not bring into or retain in an investment pool the whole or any part of a fund subject to a trust if the investments in which the capital of the investment pool is invested are not investments made in accordance with and subject to the Trustee Act 1925 or any other Act authorising the investment of trust funds.