Commonwealth Numbered Acts

ABORIGINAL AND TORRES STRAIT ISLANDER COMMISSION AMENDMENT ACT (No. 3) 1993 No. 1 of 1994 - SECT 44

44. Sections 14 to 19 (inclusive) of the Principal Act are repealed and the
following sections are substituted: Commission may make grants and loans

"14.(1) The Commission may:

   (a)  make a grant of money; or

   (b)  grant an interest in land; or

   (c)  grant an interest in personal property; or

   (d)  make a loan of money (whether secured or unsecured); to:

   (e)  an individual; or

   (f)  a body corporate (other than a Regional Council or the TSRA); or

   (g)  an unincorporated body; for the purpose of furthering the social,
        economic or cultural development of Aboriginal persons or Torres
        Strait Islanders.

"(2) A grant or loan is subject to such terms and conditions as the Commission
determines.

"(3) The Commission may acquire by agreement an interest in land, or personal
property, for the purpose of making a grant under this section. Commission may
give guarantees

"15.(1) If the Commission is satisfied that the purpose of a loan made or to
be made to:

   (a)  an individual; or

   (b)  a body corporate; or

   (c)  an unincorporated body; is a purpose for which the Commission could,
        in the performance of its functions, make a loan to that borrower, the
        Commission may guarantee the due payment of all money (including
        interest) payable by the borrower in accordance with the terms and
        conditions of the loan.

"(2) The Commission's power to give guarantees is subject to such limits as
the Treasurer determines as to the total amount of money (other than interest)
the payment of which may at any time be the subject of guarantees.

"(3) A guarantee is subject to such terms and conditions as the Commission
determines. Commission may make grants and loans to State and Territory
governments etc.

"16.(1) The Commission may make a grant of money to:

   (a)  a State; or

   (b)  the Australian Capital Territory; or

   (c)  the Northern Territory; or

   (d)  an authority of a State or a Territory (including a local government
        body); for the purpose of furthering the social, economic or cultural
        development of Aboriginal persons or Torres Strait Islanders.

"(2) The Commission may make a loan of money to:

   (a)  a State; or

   (b)  the Australian Capital Territory; or

   (c)  the Northern Territory; or

   (d)  an authority of a State or a Territory (including a local government
        body); for the purpose of furthering the social, economic or cultural
        development of Aboriginal persons or Torres Strait Islanders.

"(3) A grant or loan is subject to such terms and conditions as the Commission
determines. Commission may subscribe for shares in the capital of a body
corporate etc.

"17. The Commission may subscribe for, or otherwise acquire, shares or stock
in the capital of a body corporate for the purpose of furthering the social,
economic or cultural development of Aboriginal persons or Torres Strait
Islanders.".