Purchase of financial assets with relevant money by Commonwealth entities for the purpose of generating future income, appreciation in asset value over time, or hedging for risks. An entity can only invest if empowered by a delegation from the Finance Minister or Treasurer. The PGPA Act and PGPA Rule places restrictions on how investments are to be administered and sets limits on the types of investments (“authorised investments”) that can be made. Delegations from  the Finance Minister or Treasurer can include further restrictions or directions.

Some entities have enabling legislation permitting investment activities. The PGPA Act does not limit these investment provisions.

The Treasurer has delegated investment powers to the Australian Office of Financial Management for its role in managing the Commonwealth's public debt.

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