Recommendation 36: Powers of Trust
- Amend the Act to provide that a Trust may establish, acquire, operate or manage a related entity being either:
- an Aboriginal and Torres Strait Islander corporation within the meaning of the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (Cth)
- a company within the meaning of the Corporations Act 2001 (Cth).
- Amend the Act to provide that a Trust must include in the accounts and records of the Trust the financial records of the related entity and details of the operations of the related entity.
Support in full.
This recommendation will be implemented in phase one.
Recommendation 37: Power of Trust to carry on business on Trust land
Amend section 11(b) of the Act to clarify that a Trust “carry on any business, including on any land held by the Trust”.
Support in full.
This recommendation will be implemented in phase one.
Recommendation 38: Finance
In addition to core funding for administration, the Victorian Government should give consideration to providing some targeted funding for investments in the form of property or other investment to create income streams to finance the Trusts.
Support in principle.
Subject to resourcing and analysis of costs.
This recommendation will be further considered for implementation in phase two.
Recommendation 39: Mining
Amend the Act to make the requirements in relation to mining consistent with s 31 of the Aboriginal Land Rights (Lake Condah and Framlingham Forest) Act 1987 (Cth).
Support in principle.
Further analysis is required regarding how to appropriately incorporate mining restrictions within the context of this Act.
This recommendation will be further considered for implementation in phase two
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