Land Fund and Indigenous Land Corporation (ATSIC Amendment) Act 1995 (Act No. 20 of 1995).

The major part of the provisions amend provisions of the Aboriginal and Torres Straith Islander Commission Act and insert new provisions in that Act in order to provide for the establishment of a Corporation and a Fund which are to assist Aboriginal persons and Torres Strait islanders in acquiring and managing of land. The Act is divided into 3 Parts: Preliminary (1); Amendments relating to the establishment of the Indigenous Land Corporation and the Aboriginal and Torres Strait Islander Land Fund (2); Amendment of other Acts (3).Part 2 is divided into 14 Divisions: Indigenous Land Corporation (1); Functions and powers of the Indigenous Land Corporation (2); National indigenous land strategy and regional indigenous land strategies (3); Dealings in land granted by Indigenous Land Corporation (4); Board of Directors of Indigenous Land Corporation (5); Administrative provisions (6); Operations of Indigenous Land Corporation Board (7); Indigenous Land Corporation General Manager (8); Staff (9); Aboriginal and Torres Strait Islander Fund (10); Finances (11); Exemption from stamp duty, etc. (12); Secrecy (13); Delegation (14).Land acquisition functions of the Corporation are outlined in section 191 D and land management functions of the Corporation are outlined in section 191 E. Land management functions may be carried out in respect of indigenous-held land under agreements with the holders of the land or in respect to land held by the Corporation. Functions may be performed by subsidiaries of the Corporation (sect. 191G). Powers of the Corporation are specified in section 191H. The Board of the Corporation shall prepare and revise, from time to time, national and regional indigenous land strategies (sect. 191 N and P). For the purpose of its functions, the Corporation must have regard to the national and regional strategies (sect. 191Q). Section 192W provides for the establishment of a Trust Account ("the Aboriginal and Torres Strait Islander land Fund") to make payments to the Corporation and the Commission. The Act is completed by a Schedule containing amendments to the Native Title Act of 24 December 1993 and the Renumeration Tribunal Act 1993.

Amends: Native Title Act 1993. (2017-06-22)