Victorian Consolidated Legislation

Aboriginal Lands Act 1970 - SECT 21

Dividends

21. Dividends



(1) The Trust shall not distribute any moneys amongst its members in the form
of dividends except from profits (including accumulated profits and realized
capital profits), and in accordance with an express resolution of a general
meeting of the Trust.

(2) Any amount distributed in any financial year shall not exceed the amount
determined by the committee of management to be available for that purpose in
that year, after adequate provision is made for the payment or setting aside
of other moneys to be paid or set aside from the income of the Trust.

(3) Any amount authorized to be distributed as dividends by a resolution of a
general meeting shall be deemed to be appropriated for the purpose, and held
in trust for the persons entitled to receive dividends in their respective
shares.

General Meetings