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A statutory body should adopt a proactive approach in monitoring the appropriateness of its systems, operations and overall financial position and performance. In practical terms, the responsibility for monitoring the efficient, effective and economical financial and performance management of a statutory body will rest with a Board (or equivalent governing body).

The purpose of this guide is to provide an overview of some of the legislation, policies and guidance documents that may apply to the operation of Queensland statutory bodies. Please note that this is not an exhaustive list and agencies will need to consider the requirements of all applicable legislation and policies.

These Investment Policy Guidelines are designed to assist statutory bodies in understanding their obligations under the Statutory Bodies Financial Arrangements Act 1982, and to provide direction on some of the key considerations which should form the development of a prudent and appropriate investment policy framework. The Guidelines also seek to assist statutory bodies with the preparation of a formal investment policy, which should outline principles and practices for a statutory body to invest in the required manner, and be able to demonstrate it has done so.

The object of the Statutory Bodies Financial Arrangements Act 1982 (SBFA Act) is to provide for the efficient and effective management of the powers of statutory bodies to enter into financial arrangements. The guidelines provide a general outline of the impact of the SBFA Act on the operations of statutory bodies.