Australian Capital Territory Numbered Acts

FINANCIAL MANAGEMENT ACT 1996 (NO. 22 OF 1996) - SECT 56

56. (1) Funds not immediately required for the purposes of a Territory authority may be invested—

        (a)     on deposit with a bank;

        (b)     in Territory, State or Commonwealth securities;

        (c)     by the Treasurer on behalf of the Territory authority; or

        (d)     in any other investment approved by the Treasurer.

(2) Transfers between the Territory bank account and the bank account of a Territory authority to facilitate investments may be made without appropriation.

(3) Interest received from the investment of the funds of a Territory authority remain s funds of the authority.