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Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018
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Administered by
Department of Finance
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C2023C00407 (C05)
01 November 2023
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Part 1—Preliminary
1 Short title
2 Commencement
3 Simplified outline of this Act
4 Definitions
5 Crown to be bound
6 Extension to external Territories
7 Extra territorial application
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Part 2—Aboriginal and Torres Strait Islander Land and Sea Future Fund
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Division 1—Introduction
8 Simplified outline of this Part
Division 2—Aboriginal and Torres Strait Islander Land and Sea Future Fund
9 Establishment of the Aboriginal and Torres Strait Islander Land and Sea Future Fund
10 Transfer of balance of the Aboriginal and Torres Strait Islander Land Account
11 Transfer of investments of the Aboriginal and Torres Strait Islander Land Account
Division 3—Aboriginal and Torres Strait Islander Land and Sea Future Fund Special Account
12 Establishment of the Aboriginal and Torres Strait Islander Land and Sea Future Fund Special Account
13 Credits of amounts to the Aboriginal and Torres Strait Islander Land and Sea Future Fund Special Account
14 Purposes of the Aboriginal and Torres Strait Islander Land and Sea Future Fund Special Account—main purposes
15 Purposes of the Aboriginal and Torres Strait Islander Land and Sea Future Fund Special Account—purposes related exclusively to the investments etc. of the Aboriginal and Torres Strait Islander Land and Sea Future Fund
16 Purposes of the Aboriginal and Torres Strait Islander Land and Sea Future Fund Special Account—purposes not related exclusively to the Aboriginal and Torres Strait Islander Land and Sea Future Fund
17 Future Fund Board must ensure that the balance of the Aboriginal and Torres Strait Islander Land and Sea Future Fund Special Account is sufficient to cover authorised debits etc.
Division 4—Inter fund transfers
18 Transfers from the Aboriginal and Torres Strait Islander Land and Sea Future Fund to the Future Fund
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Part 3—Indigenous Land and Sea Corporation Funding Special Account
19 Simplified outline of this Part
20 Indigenous Land and Sea Corporation Funding Special Account
21 Purpose of the Indigenous Land and Sea Corporation Funding Special Account
22 Annual payments to the Indigenous Land and Sea Corporation
23 Annual payments—pre payment transfers to the Indigenous Land and Sea Corporation Funding Special Account
24 Annual payments—indexation factor
25 Additional payments to the Indigenous Land and Sea Corporation
26 Additional payments—pre payment transfers to the Indigenous Land and Sea Corporation Funding Special Account
27 Additional payments—advice given by the Future Fund Board
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Part 4—Investment of the Aboriginal and Torres Strait Islander Land and Sea Future Fund
28 Simplified outline of this Part
29 Objects of investment of the Aboriginal and Torres Strait Islander Land and Sea Future Fund
30 Investment of the Aboriginal and Torres Strait Islander Land and Sea Future Fund
31 Management of investments of the Aboriginal and Torres Strait Islander Land and Sea Future Fund
32 Aboriginal and Torres Strait Islander Land and Sea Future Fund Investment Mandate
33 Obligation on Future Fund Board in performing investment functions
34 Limitation on Aboriginal and Torres Strait Islander Land and Sea Future Fund Investment Mandate
35 Future Fund Board to be consulted on Aboriginal and Torres Strait Islander Land and Sea Future Fund Investment Mandate
35A Indigenous Affairs Minister to be consulted on Aboriginal and Torres Strait Islander Land and Sea Future Fund Investment Mandate
36 Compliance with Aboriginal and Torres Strait Islander Land and Sea Future Fund Investment Mandate
37 Future Fund Board must not trigger the takeover provisions of the Corporations Act 2001
38 Borrowing
39 Aboriginal and Torres Strait Islander Land and Sea Future Fund investment policies
40 Derivatives
41 Additional financial assets
42 Securities lending arrangements
43 Investment managers
44 Refund of franking credits
45 Realisation of non financial assets
46 Additional function of the Future Fund Board
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Part 5—Reporting obligations etc.
47 Simplified outline of this Part
48 Finance Minister may require the Future Fund Board to prepare reports or give information
49 Keeping the responsible Ministers informed etc.
50 Finance Minister may give reports to other Ministers etc.
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Part 6—Miscellaneous
51 Simplified outline of this Part
51A Meeting to discuss quarterly performance report
52 Delegation by the Finance Minister
53 Delegation by the Treasurer
54 Delegation by the Indigenous Affairs Minister
55 Review of operation of Act
56 Rules
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Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history