Sydney Turf Club (Amendment) Act 1985 (NSW)

SYDNEY TURF CLUB (AMENDMENT) ACT 1985 No. 120

ANNO TRICESIMO QUARTO

ELIZABETHS II REGINS

Act No. 120, 1985

An Act to amend the Sydney Turf Club Act 1943 for the purpose of making further provision with respect to the investment powers of the Sydney Turf Club. [Assented to, 6th November, 1985.]

2  Act No. 120

Sydney Turf Club (Amendment) 1985

BE it enacted by the Queen’s Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled, and by the authority of the same, as follows:

Short title

1. This Act may be cited as the “Sydney Turf Club (Amendment) Act

1985” .

Amendment of Act No. 22, 1943

2. The Sydney Turf Club Act 1943 is amended by omitting paragraph

(q) of the Third Schedule and by inserting instead the following paragraph:

(q) To invest any money belonging to the Club, which is not immediately required for carrying out its functions, in—

(i)  debentures, stocks or bonds issued or proposed to be issued by a government;

(ii)  debentures, stocks, shares, bonds or notes issued or proposed to be issued by a body corporate or unincorporate;

(iii)  any right or option in respect of any debentures, stocks, shares, bonds or notes referred to in subparagraph (ii);

(iv) prescribed interests within the meaning of the Companies (New South Wales) Code;

(v) bills of exchange; or

(vi) promissory notes,

or on fixed deposit with any financial institution authorised to

receive money on deposit.