New South Wales Consolidated Acts
[Index]
[Table]
[Search]
[Search this Act]
[Notes]
[Noteup]
[Previous]
[Next]
[Download]
[History]
[Help]
ABORIGINAL LAND RIGHTS ACT 1983 - SECT 38
Purchase, lease etc of property
38 Purchase, lease etc of property
(1) The New South Wales Aboriginal Land Council or a
Local Aboriginal Land Council may purchase, take on lease or hold any property
or may acquire property by gift inter vivos, devise or bequest.
(1A) Despite
subsection (1), a Local Aboriginal Land Council may purchase land only if--
(a) the purchase price for the land is not more than 15% above the market
value of the land, as assessed by a qualified valuer who is appointed by the
Local Aboriginal Land Council, or
(b) the
New South Wales Aboriginal Land Council has given its written approval to that
purchase, or
(c) the purchase is for nominal consideration.
(2) The
New South Wales Aboriginal Land Council or a Local Aboriginal Land Council may
agree to the condition of any gift, devise or bequest to it, and the rule of
law relating to perpetuities does not apply to any condition to which the
Council has agreed under this section.
(3) Property acquired by the
New South Wales Aboriginal Land Council or a Local Aboriginal Land Council
subject to a condition to which the Council has agreed shall not be dealt with
by the Council except in accordance with the condition.
(5) Nothing in this
Act prevents the vesting of lands pursuant to Division 3 of Part 4A of the NPW
Act in more than one Local Aboriginal Land Council as tenants in common. Note
: Division 3 of Part 4A of the NPW Act deals, among other matters, with the
vesting in an Aboriginal Land Council or Councils of lands, reserved or
dedicated under that Act, that are of cultural significance to Aboriginals and
that are listed in Schedule 14 to that Act.
(6) Subject to the regulations, a
reference in this section to a
"qualified valuer" is a reference to a person who-- (a) has membership of the
Australian Valuers Institute (other than associate or student membership), or
(b) has membership of the Australian Property Institute (other than student or
provisional membership), acquired in connection with his or her occupation as
a valuer, or
(c) has membership of the Royal Institution of Chartered
Surveyors as a chartered valuer, or
(d) is of a class prescribed by the
regulations.
AustLII: Copyright Policy
| Disclaimers
| Privacy Policy
| Feedback