1. Money that is to be invested by the Registrar pursuant to an order under Order 63 rule 5 of the Federal Court Rules must be invested in accordance with the Financial Management and Accountability Act 1997 (Cth) which prescribes the types of investments that may be made. The investments allowed under this Act are:
securities of the Commonwealth or of a State or Territory;
securities guaranteed by the Commonwealth, a State or a Territory;
a deposit with a bank, including a deposit evidenced by a certificate of deposit;
any other form of investment prescribed by the regulations.
Under the Financial Management and Accountability Regulations 1997 the authorised investments are:
(a) a bill of exchange accepted or endorsed only by a bank; and
(b) a professionally managed money market trust if the Minister or the Treasurer is satisfied that:
(i) the only investments managed by the trust are mentioned in subparagraph (a) (i), (ii) or (iii), or (b) (i), (ii) or (iii), of the definition of authorised investment in subsection 39 (10) of the Act, or in paragraph (a); and
(ii) a charge over trust assets does not support any borrowings by the trust.
2. An investment account opened by the Registrar must, in accordance with the Financial Management and Accountability Act, include in its title the words “Federal Court of Australia Official Exempt SPM (insert proceeding file number and title)”.
