(1) Money in the Fund that, in the opinion of the Board, is not immediately required for the purposes of SEGC may be invested by SEGC in a permitted manner. (2) Property in which money is invested under subsection (1) forms part of the Fund. (3) Subject to subsection (4), the Board may, with the approval of ASIC, appoint a person to invest on behalf of SEGC money to which subsection (1) applies. (4) ASIC must not grant approval to the appointment of a person under subsection (3) unless it is satisfied that:
(5) A person appointed under subsection (3) must perform the duties of the appointment in accordance with the directions of the Board and subject to such conditions (if any) as the Board imposes.