Commonwealth Consolidated Acts

ABORIGINAL AND TORRES STRAIT ISLANDER LAND AND SEA FUTURE FUND ACT 2018

TABLE OF PROVISIONS

           Long Title

   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  

   PART 2--ABORIGINAL--AND TORRES STRAIT ISLANDER LAND AND SEA FUTURE FUND

           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  

   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  

   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  

   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.  

   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