South Australian Consolidated Acts

BENEFIT ASSOCIATIONS ACT 1958 - SECT 5A

5A—Investment of contributions

        (1)         Contributions accepted or collected by a benefit association must—

            (a)         be held in a fund under the control of a trustee approved by the Minister; or

            (b)         be invested otherwise as approved by the Minister.

        (2)         A fund established under subsection (1)(a) must be invested in accordance with the Trustee Act 1936 and the value of the fund must be maintained at a level at least equal to the liabilities of the fund certified annually by an actuary.