Superannuation Funds (Investment and Management) Statute (Cth)

THE AUSTRALIAN NATIONAL UNIVERSITY

Statute No.

SUPERANNUATION FUNDS (INVESTMENT AND MANAGEMENT) STATUTE

Citation

1.            This Statute may be cited as the Superannuation Funds (Investment and Management) Statute.

Inter-
pretation

2.          In this Statute, unless the contrary intention appears -

“Academic Cash Accumulation Fund” means the fund established for the purposes of the Staff Superannuation Scheme, being the scheme established and maintained by the Council pursuant to section 2 of the Staff Superannuation Statute;

“Cash Accumulation Superannuation Fund” means the fund established for the purposes of the Cash Accumulation Superannuation Scheme, being the scheme established on 12 June 1959 by resolution of the Finance Committee of the Council;

“1966 Supplementary Superannuation Benefits Fund” means the fund established pursuant to section 53 of the Staff Superannuation Statute;

“superannuation fund” means –

          (a)  the Academic Cash Accumulation Fund;

          (b)  the Cash Accumulation Superannuation Fund;

          (c)  the 1966 Supplementary Superannuation Benefits Fund; or

          (d)  the Supplementary Superannuation Benefits Fund;

“Supplementary Superannuation Benefits Fund” means the fund established pursuant to section 52 of the Staff Superannuation Statute;

“University money” means any money held or invested by the University other than money belonging to a superannuation fund.

Investment
of Super-annuation
Funds

3.         (1)        A superannuation fund may be invested in any way that Council may direct.

(2)           Without limiting the generality of sub-section (1), the Council may –

(a)        invest part or all of any superannuation fund with part or all of each of any one or more other superannuation funds; and

(b)        invest part or all of each of any one or more superannuation funds with University money.

Records

4.         The Council shall keep separate accounts for each superannuation fund that record and explain each transaction in relation to the fund.

Given under the Common Seal of The Australian National University

this Eighth day of May 1986.

(signed) Peter Karmel

Vice-Chancellor,

(SEAL) 

(signed) W R Williams

Secretary.

I, the Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby approve the foregoing Statute.

dated 17 July 1986

(signed) Ninian Stephen

Governor-General

(signed) Susan Ryan

Minister for Education