Victorian Consolidated Legislation

Aboriginal Lands Act 1970 - SECT 11

Powers of Trusts

11. Powers of Trusts



(1) A Trust may subject to this Act-

   (a)  manage maintain improve and develop any land held by the Trust;

   (b)  carry on any business on any land held by the Trust;

   (c)  purchase take hold sell lease take on lease exchange or dispose of any
        real or personal property (other than securities falling outside
        paragraph (e));





   (d)  borrow money on the security of a mortgage charge or other assurance
        of any real or personal property of the Trust, or on overdraft of
        current account at any authorised deposit-taking institution within
        the meaning of the Banking Act 1959 of the Commonwealth;

   (e)  invest money in any manner in which money may be invested under the
        Trustee Act 1958;



   (f)  have accounts with any authorised deposit-taking institution within
        the meaning of the Banking Act 1959 of the Commonwealth;



   (g)  appoint and employ officers and employés;

   (h)  distribute amongst its members in the form of dividends any moneys of
        the Trust available for distribution in accordance with this Act; and

        (i)    do all such other things as are properly incidental to the
               exercise of any powers conferred on the Trust by this or any
               other section of this Act.

(2) The provisions of subsections (1) and (2) of section 35 of the Companies
Act 1961 shall apply to and in relation to a Trust and contracts entered into
by it as if it were a company incorporated under that Act.

(3) A trust shall not sell, give in exchange or otherwise dispose of any land
to any person, except in accordance with a unanimous resolution of the Trust.

(4) A Trust shall not let any land for a period of more than twenty-one years.

(5) A Trust shall not under this section make a loan to any person who is a
member of a Trust, or of its committee of management.

Members' Shares in Trusts