Treasury Funds Investment Act Amendment Act of 1960 (9 Eliz Ii No. 19) (Qld)

16 <J|uceuslant» ANNO NONO ELIZABETHAE SECUNDAE REGINAE. ««««« ♦ ♦♦ «♦« ** No. 19. An Act to Amend "The Treasury Funds Investment Act of 1958/' in certain particulars. [A ssented to 14 th N ovember , I960.] Short title. Principal Aot' Collective tltle‘ E it enacted by the Queen’s Most Excellent Majesty, B by and with the advice and consent of the Legis­ lative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:— 1 . ( 1 .) This Act may be cited as “ The Treasury Funds Investment Act Amendment Act of 1960.” ( 2 .) “ The Treasury Funds Investment Act of 1958 ” is herein referred to as the Principal Act. (3.) The Principal Act and this Act may be collectively cited as “ The Treasury Funds Investment Acts, 1958 to 1960.” Amendments 2 . Section three of the Principal Act is amended ofS.3. by_ (a) In paragraph ( 6 ) of subsection two repealing the words “ Commonwealth Trading Bank ” and inserting, in lieu of those repealed words, the words “ Reserve Bank of Australia ” ; (b) In subsection three repealing the words “ The Treasurer ” and inserting, in lieu of those repealed words, the words “ Save as provided in subsection four of this section, the Treasurer ” :

9 E liz . II. No. 19, 1960. Treasury Funds Investment Act, Etc., Act. 17 (c) Inserting after subsection three the following subsection :— “ (4.) The Treasurer may without the prior approval of the Governor in Council make any such investment—■ (а) In any securities of or guaranteed by the Commonwealth whereof the term is less than one year or has, when the investment is made, less than one year to run ; or ( б ) With the Reserve Bank of Australia or any authorised and approved dealer in the short term money market with established lines of credit with the Reserve Bank of Australia as a lender of last resort: Provided that the Governor in Council may from time to time direct the Treasurer generally with respect to the making of investments referred to in this subsection and the Treasurer shall observe such directions, if any.” ; and (d) Renumbering subsection four as subsection five. 3. Subsection one of section five of the Principal Amendment Act is amended by adding the following paragraph :— of Sl 5 d)* “ In this subsection “ interest ” means all moneys received by the Treasurer in excess of the amount invested.” By Authority: S. G. R eid , Government Printer, Brisbane—1960.