James Cook University of North Queensland (Investment) Statute 1993 (Qld)

Queensland Subordinate Legislation 1993 No. 90 James Cook University of North Queensland Act 1970 JAMES COOK UNIVERSITY OF NORTH QUEENSLAND (INVESTMENT) STATUTE 1993 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Investment of funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Repeal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

2 James Cook University of North Queensland (Investment) No. 90, 1993 ˙ Short title 1. This Statute may be cited as the James Cook University of North Queensland (Investment) Statute 1993 . ˙ Investment of funds 2.(1) For the purposes of section 34(6) of the Act, the Council may invest any money of the University— (a) in a form of investment that is an authorised investment under the Trusts Act 1973 ; or (b) in stocks and shares in a corporation incorporated under the Corporations Law whose shares are listed on a stock exchange in Australia; or (c) in stocks and shares in a corporation listed on a recognised overseas stock exchange; or (d) in debentures, bonds, notes or other interest bearing securities, issued in Australia by a limited liability corporation that is rated— (i) AA or better by Standard and Poors Corporation; or (ii) Prime 1 by Moodys Investor Services Pty Limited; or (e) in insured mortgages; or (f) on deposit with a building society registered, or authorised to operate, under the Financial Institutions (Queensland) Code; or (g) in securities issued or guaranteed by a national Government of a country whose sovereign debt is rated— (i) AA or better by Standard and Poors Corporation; or (ii) Prime 1 by Moodys Investor Services Pty Limited; or (h) in options to purchase securities in which the Council may invest under this Statute. (2) If the Council invests money in a way authorised by— (a) subsection (1)(d)—the investment continues to be authorised by this Statute even if the rating of the limited liability corporation

3 James Cook University of North Queensland (Investment) No. 90, 1993 concerned does not continue to satisfy subsection (1)(d); or (b) subsection (1)(g)—the investment continues to be authorised by this Statute even if the rating of the sovereign debt does not continue to satisfy subsection (1)(g). (3) The Council must review each investment to which subsection (2) applies at regular intervals. ˙ Repeal 3. Statute No. 13 Investment, gazetted on 18 June 1988 at page 1367 is repealed. The Common Seal of the James Cook University of North Queensland was hereto affixed pursuant to a resolution of the Council dated 4 March 1993 by me as the proper officer having custody thereof. DR K S LESTER Pro-Vice-Chancellor (Administration) and Registrar ENDNOTES 1. Made by the Council of the James Cook University of North Queensland on 4 March 1993. 2. Approved by Governor in Council on 1 April 1993. 3. Notified in the Gazette on 2 April 1993. 4. Laid before the Legislative Assembly on . . . 5. The administering agency is the Department of Education. The State of Queensland 1993