An Act to establish a corporation for the purpose of utilising the timber resources of certain areas in North New Georgia and for matters connected therewith or incidental thereto.
The is established the North New Georgia Timber Corporation the principal object of which shall be to promote the utilisation of the timber resources of North New Georgia for the public benefit. There shall be a Board of Directors of the Corporation. For purposes of this Act, all ownership of timber standing on customary lands within North New Georgia shall be transferred to the Corporation (sect. 4). Compensation for the acquisition of rights shall be effected in accordance with section 5. The Functions of the North New Georgia Timber Corporation are set out in section 6.