Victorian Consolidated Legislation

Aboriginal Lands Act 1970 - SECT 20

Valuation of shares

20. Valuation of shares



(1) Whenever by any provision of this Act the value of any shares in a Trust
is required to be fixed by the auditor, he shall fix the value of the shares
in relation to the equity value of the Trust at the date of the last published
balance-sheet (as disclosed by the balance-sheet and the statement concerning
the estimated current value of the assets in the annexed report of the
committee of management), with such adjustments thereto (if any) as in his
opinion are necessary to arrive at a fair and reasonable equity value for the
shares at the date of the valuation having regard to-

   (a)  any material change in the current market value of the assets since
        the date of the last published balance-sheet;

   (b)  any dividends paid or to be paid to members since the said date;

   (c)  the estimated profit or loss of the Trust for the current financial
        year; and

   (d)  any other matter which in his opinion materially affects the equity
        value of the Trust.



(2) In this section equity value in relation to a Trust, means the sum
remaining after deducting from the total value of all assets of the Trust the
amount of all liabilities claims and debts to which the Trust is subject or
which it owes.