Commonwealth Consolidated Acts

ABORIGINAL AND TORRES STRAIT ISLANDER ACT 2005 - SECT 4B

Indigenous‑held land

             (1)  For the purposes of this Act, land is indigenous‑held land if, and only if:

                     (a)  an interest in the land is held by an Aboriginal or Torres Strait Islander corporation; or

                     (b)  an interest in the land is held by an Aboriginal person or a Torres Strait Islander.

Exception--minority interest in tenancy in common

             (2)  For the purposes of subsection (1), an interest in land is to be ignored if:

                     (a)  the interest consists of a share in a tenancy in common; and

                     (b)  the proportion of the shares in the tenancy in common held by:

                              (i)  Aboriginal persons; and

                             (ii)  Torres Strait Islanders; and

                            (iii)  Aboriginal or Torres Strait Islander corporations;

                            is less than 50%.

Exception--minority interest in partnership property

             (3)  For the purposes of subsection (1), an interest in land is to be ignored if:

                     (a)  the interest consists of a share in partnership property; and

                     (b)  the proportion of the shares in the partnership property held by:

                              (i)  Aboriginal persons; and

                             (ii)  Torres Strait Islanders; and

                            (iii)  Aboriginal or Torres Strait Islander corporations;

                            is less than 50%.

Exception--interest of a mortgagee

             (4)  For the purposes of subsection (1), an interest in land is to be ignored if the interest is held in the capacity of mortgagee (whether legal or equitable).