New South Wales Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]


How may councils invest?

625 How may councils invest?

(1) A council may invest money that is not, for the time being, required by the council for any other purpose.
(2) Money may be invested only in a form of investment notified by order of the Minister published in the Gazette.
Editorial note : See Gazettes No 152 of 24.11.2000, p 12041; No 94 of 29.7.2005, p 3977; No 97 of 15.8.2008, p 7638 and No 160 of 24.12.2008, p 13140.
(3) An order of the Minister notifying a form of investment for the purposes of this section must not be made without the approval of the Treasurer.
(4) The acquisition, in accordance with section 358, of a controlling interest in a corporation or an entity within the meaning of that section is not an investment for the purposes of this section.

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback