Commonwealth Consolidated Acts

NATION-BUILDING FUNDS ACT 2008 - SECT 239

             (1)  The Future Fund Board may engage one or more investment managers for purposes in connection with the Health and Hospitals Fund.

             (2)  The Future Fund Board must not:

                     (a)  invest amounts under subsection 227(1) ; or

                     (b)  acquire derivatives under subsection 236(1); or

                     (c)  enter into a securities lending arrangement under subsection 238(1); or

                     (d)  realise financial assets that are investments of the Health and Hospitals Fund;

unless the Future Fund Board does so:

                     (e)  through an investment manager engaged by the Future Fund Board under subsection (1) of this section; or

                      (f)  in a manner approved, in writing, by the responsible Ministers.

             (3)  The Future Fund Board must ensure that any investment manager engaged by the Future Fund Board under subsection (1) operates within this Act.

             (4)  The Future Fund Board must ensure that any investment manager engaged by the Future Fund Board under subsection (1) reports to:

                     (a)  the Future Fund Board; and

                     (b)  the Agency;

on the state of the investments of the Health and Hospitals Fund at such times and in such manner as the Future Fund Board determines.