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ABORIGINAL LAND RIGHTS ACT 1983 - SECT 111
New South Wales Aboriginal Land Council's responsibilities in relation to certain arrangements and transfers
(1) In this section--
"enter into" includes participate in.
"entity" means any partnership, trust, corporation, joint venture, syndicate
or other body (whether or not incorporated).
(2) This section applies to an
arrangement entered into by the New South Wales Aboriginal Land Council-- (a)
for the purpose of exercising any of the Council's functions under this Act
(including providing a community benefits scheme), and
(b) that includes the
formation, acquisition, operation or management of an entity.
(3) NSWALC to
report on certain arrangements The New South Wales Aboriginal Land Council
must include, in the accounts and records of the Council under this Act and
the regulations, details of any operations carried out under an arrangement to
which this section applies (including any activities or operations carried out
by the entity formed, acquired, operated or managed and any financial matters
relating to any such entity).
(4) Before entering into an arrangement to
which this section applies, the New South Wales Aboriginal Land Council must
take reasonable steps to ensure that the Council will not be prevented from
complying with the Council's reporting obligations in relation to the
operations carried out under such an arrangement (including any financial
matters relating to the entity formed, acquired, operated or managed under the
arrangement).
(5) Risk assessment and approval for transfer of certain assets
Before transferring assets in connection with an arrangement to which this
section applies the New South Wales Aboriginal Land Council must, if required
to do so by any applicable policy of the
New South Wales Aboriginal Land Council (or, if no such policy exists, by the
regulations)-- (a) conduct a risk assessment with respect to the proposed
transfer in accordance with any applicable policy of the Council (or, if no
such policy exists, the regulations), and
(b) obtain the approval of the
councillors to the transfer.
(6) A requirement under this section that a risk
assessment be conducted, or that the approval of the councillors be obtained,
in relation to the proposed transfer of land in connection with an arrangement
to which this section applies, is in addition to the requirements of
section 42D.
(7) Requirement for approval resolutions A resolution that
approves the New South Wales Aboriginal Land Council's proposed transfer or
disposal of an asset or termination of an arrangement under this section must
contain a statement identifying the purpose of the proposed action and any
conditions to which the approval is subject.
(8) Approval of termination of
certain arrangements The New South Wales Aboriginal Land Council may not
terminate an arrangement to which this section applies, or dispose of an
interest in an entity formed, acquired, operated or managed under such an
arrangement, otherwise than in accordance with the approval of the
councillors.
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