Commonwealth Consolidated Acts Commonwealth Consolidated ActsSound business principles
(1) The Indigenous Land and Sea Corporation must act in accordance with sound business principles whenever it performs its functions on a commercial basis.
Relevant matters
(2) For the purpose of the performance of the Indigenous Land and Sea Corporation's functions, the Indigenous Land and Sea Corporation must give priority to the following:
(aa) ensuring that, as far as practicable, Aboriginal persons or Torres Strait Islanders derive social or cultural benefits as a result of the performance of those functions;
(a) ensuring that the Indigenous Land and Sea Corporation has access to the skills and resources required to perform its functions;
(b) maximising the employment of Aboriginal persons and Torres Strait Islanders;
(c) maximising the use of goods and services provided by businesses owned or controlled (whether directly or indirectly) by Aboriginal persons or Torres Strait Islanders.
Functions additional to functions of other bodies etc.
(3) The functions conferred on the Indigenous Land and Sea Corporation by this Act are in addition to, and not instead of, any functions conferred on a person or body by or under:
(a) any other law of the Commonwealth; or
(b) a law of a State or Territory.
Sacred matters
(4) Subject to subsection (5), in performing a function that involves dealing with cultural material or information that is considered sacred or otherwise significant by a particular group of Aboriginal persons or Torres Strait Islanders, the Indigenous Land and Sea Corporation must ensure that material or information is not disclosed if the disclosure would be inconsistent with the views or sensitivities of those Aboriginal persons or Torres Strait Islanders.
Report to Minister if sacred matters affect performance etc.
(5) The Indigenous Land and Sea Corporation must provide a written report to the Minister in cases where the performance of its functions is affected by matters referred to in subsection (4).