ABORIGINAL LAND ACT 1991 - SECT 262
Freezing land trust’s accounts
ABORIGINAL LAND ACT 1991 - SECT 262
Freezing land trust’s accounts
262 Freezing land trust’s accounts
(1) The chief executive may give a direction under subsection (2) if, on
considering a report on an audit of a land trust’s accounts, it appears to
the chief executive that—
(a) the land trust, a member of the land trust or
another person has, or may have, stolen, misappropriated or misapplied trust
money; or
(b) the accounts of the land trust are not being kept
appropriately.
(2) The chief executive may direct, by a notice, that—
(a)
an amount must not be drawn from a stated account other than with the chief
executive’s approval; or
(b) a stated account may be operated only under
stated conditions.
(3) The direction must—
(a) be given to the holder of
the account and the financial institution where the account is kept; and
(b)
state the account to which it relates; and
(c) if it includes a direction
under subsection (2) (b) , state the conditions under which the account may be
operated.