Commonwealth Numbered Acts

LAND FUND AND INDIGENOUS LAND CORPORATION (ATSIC AMENDMENT) ACT 1995 No. 20 of 1995 - SECT 5

5. Section 4 of the Principal Act is amended:
(a) by omitting "193" from paragraph (b) of the definition of "approved bank"
in subsection (1) and substituting "193V";
(b) by omitting from subsection (1) the definitions of "Corporation",

"Corporation Board", "Corporation Chairperson", "Director" and "General
Manager";
(c) by omitting the definition of "Land Fund" and substituting the following
definition:

" 'Land Fund' means the Aboriginal and Torres Strait Islander Land Fund
established by section 192W;";

   (d)  by inserting in subsection (1) the following definitions:

" 'Aboriginal or Torres Strait Islander corporation' means:

   (a)  an Aboriginal association incorporated under Part IV of the Aboriginal
        Councils and Associations Act 1976; or

   (b)  a body corporate where either of the following conditions is
        satisfied:

        (i)    all the members of the body corporate are Aboriginal persons or
               Torres Strait Islanders, or both;

        (ii)   a controlling interest in the body corporate is held by
               Aboriginal persons or Torres Strait Islanders, or both;
'appointed Indigenous Land Corporation Director' means an Indigenous Land
Corporation Director referred to in paragraph 191V(2)(a), (b), (d), (e), (f)
or (g);
'category A year' means:

   (a)  the period:

        (i)    beginning at the commencement of section 1 of the Land Fund and
               Indigenous Land Corporation (ATSIC Amendment) Act 1995; and

        (ii)   ending at the end of 30 June 1995; or

   (b)  the financial year beginning on 1 July 1995; or

   (c)  any of the next 8 succeeding financial years;
'category B year' means a financial year later than the last category A year;
'Commercial Development Corporation' means the Aboriginal and Torres Strait
Islander Commercial Development Corporation established by section 145;
'Commercial Development Corporation Board' means the Board of Directors of the
Commercial Development Corporation referred to in section 155;
'Commercial Development Corporation Chairperson' means the Chairperson of the
Commercial Development Corporation Board referred to in section 155;
'Commercial Development Corporation Director' means a member of the Commercial
Development Corporation Board;
'Commercial Development Corporation General Manager' means the General Manager
of the Commercial Development Corporation referred to in section 168;
'holder', in relation to indigenous-held land, means a person or body who
holds an interest in the land, where the interest is relevant to determining
the status of the land as indigenous-held land;
'indigenous-held land' has the meaning given by section 4B;
'Indigenous Land Corporation' means the Indigenous Land Corporation
established by section 191A;
'Indigenous Land Corporation Board' means the Board of Directors of the
Indigenous Land Corporation referred to in section 191V;
'Indigenous Land Corporation Chairperson' means the Chairperson of the
Indigenous Land Corporation Board referred to in section 191V;
'Indigenous Land Corporation Director' means a member of the Indigenous Land
Corporation Board;
'Indigenous Land Corporation General Manager' means the General Manager of the
Indigenous Land Corporation referred to in section 192K;
'interest', in relation to land, includes:

   (a)  a legal or equitable estate or interest in the land; or

   (b)  a right, power or privilege over, or in connection with, the land;
'national indigenous land strategy' means the strategy prepared under section
191N;
'Regional Land Fund' means the Regional Land Fund established by section 68;
'regional indigenous land strategy' means a strategy prepared under section
191P;";
(e) by inserting in subsection (2) ", of the Indigenous Land Corporation"
after "Commission". Note: Subsection 4(2) of the Principal Act defines
"subsidiary".