New South Wales Consolidated Acts

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PUBLIC FINANCE AND AUDIT ACT 1983 - SECT 20

Investment of funds

20 Investment of funds

Without limiting any authority granted by or under any other Act to invest public money, any such money may be invested:

(a) on deposit with a bank and on deposit with, or by way of withdrawable shares in, a building society or credit union,
(b) in the purchase of a bill of exchange that is drawn, accepted or endorsed by a bank, building society or credit union,
(c) in a loan to a person who is a dealer in the short term money market and in relation to whom, at the time the loan is made, the Reserve Bank of Australia stands as lender of last resort,
(d) in the purchase of securities, the repayment of which is guaranteed by the Government of New South Wales or of the Commonwealth, or
(e) in any prescribed investment.



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