Public Authorities (Financial Arrangements) Act 1987 Regulation relating to investment powers of Luna Park Reserve Trust (1995-196) [GG No 63 of 26.5.1995] (NSW)

1995—No. 196

PUBLIC AUTHORITIES (FINANCIAL ARRANGEMENTS)

ACT 1987—REGULATION

(Relating to investment powers of Luna Park Reserve Trust)

NEW SOUTH WALES

[Published in Gazette No. 63 of 26 May 1995]

HIS Excellency the Governor, with the advice of the Executive Council, and on the recommendation of the Treasurer and the Minister for Land and Water Conservation, and in pursuance of the Public Authorities (Financial Arrangements) Act 1987, has been pleased to make the Regulation set forth hereunder.

Michael Egan
Treasurer.

The Public Authorities (Financial Arrangements) Investment Powers Regulation 1990 is amended by inserting at the end of clause 4 the following subclause:

(2) For the purposes of section 24 of the Act, the Luna Park Reserve Trust is declared to have the investment powers described in Part 4 of Schedule 4 to the Act but only in respect of such funds of or under the control of the Trust as are determined by the Treasurer.

EXPLANATORY NOTE

The object of this Regulation is to confer on the Luna Park Reserve Trust the investment powers described in Part 4 of Schedule 4 to the Public Authorities (Financial Arrangements) Act 1987 (i.e. investments of any kind) but only in respect of such of the Trust’s funds as are specified by the Treasurer. This Regulation will, for example, enable the Trust to lend such amounts of money as are specified by the Treasurer to Luna Park Amusements Pty Ltd.

This Regulation is made under the Public Authorities (Financial Arrangements) Act 1987, including sections 24 and 43 (2) (c).