Commonwealth Consolidated Acts Commonwealth Consolidated ActsNo. 145, 2018
Compilation No. 5
Compilation date: 1 November 2023
Includes amendments up to: Act No. 81, 2023
Registered: 7 November 2023
About this compilation
This compilation
This is a compilation of the Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018 that shows the text of the law as amended and in force on 1 November 2023 (the compilation date).
The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.
Uncommenced amendments
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
Editorial changes
For more information about any editorial changes made in this compilation, see the endnotes.
Modifications
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.
Self-repealing provisions
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
Contents
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
Endnotes
Endnote 1--About the endnotes
Endnote 2--Abbreviation key
Endnote 3--Legislation history
Endnote 4--Amendment history
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1--About the endnotes
Endnote 2--Abbreviation key
Endnote 3--Legislation history
Endnote 4--Amendment history
Abbreviation key--Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.
Legislation history and amendment history--Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.
Editorial changes
The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.
If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.
Misdescribed amendments
A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.
If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and "(md not incorp)" is added to the amendment history.
ad = added or inserted | o = order(s) |
am = amended | Ord = Ordinance |
amdt = amendment | orig = original |
c = clause(s) | par = paragraph(s)/subparagraph(s) |
C[x] = Compilation No. x | /sub-subparagraph(s) |
Ch = Chapter(s) | pres = present |
def = definition(s) | prev = previous |
Dict = Dictionary | (prev ... ) = previously |
disallowed = disallowed by Parliament | Pt = Part(s) |
Div = Division(s) | r = regulation(s)/rule(s) |
ed = editorial change | reloc = relocated |
exp = expires/expired or ceases/ceased to have | renum = renumbered |
effect | rep = repealed |
F = Federal Register of Legislation | rs = repealed and substituted |
gaz = gazette | s = section(s)/subsection(s) |
LA = Legislation Act 2003 | Sch = Schedule(s) |
Sdiv = Subdivision(s) | |
(md) = misdescribed amendment can be given | SLI = Select Legislative Instrument |
effect | SR = Statutory Rules |
(md not incorp) = misdescribed amendment | Sub-Ch = Sub-Chapter(s) |
cannot be given effect | SubPt = Subpart(s) |
mod = modified/modification | underlining = whole or part not |
No. = Number(s) | commenced or to be commenced |
Endnote 3--Legislation history
Act | Number and year | Assent | Commencement | Application, saving and transitional provisions |
Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018 | 145, 2018 | 30 Nov 2018 | 1 Feb 2019 (s 2(1) item 1) |
|
Aboriginal and Torres Strait Islander Land and Sea Future Fund (Consequential Amendments) Act 2018 | 146, 2018 | 30 Nov 2018 | Sch 3: never commenced (s 2(1) item 4) | -- |
56, 2019 | 30 July 2019 | Sch 1 (items 1-3) and Sch 2 (items 1-3, 41-43): 1 Sept 2019 (s 2(1) item 2) | Sch 2 (items 41-43) | |
91, 2019 | 28 Oct 2019 | Sch 1 (items 1-3) and Sch 2 (items 2-4, 43-45): 12 Dec 2019 (s 2(1) item 1) | Sch 2 (items 43-45) | |
Emergency Response Fund Amendment (Disaster Ready Fund) Act 2022 | 65, 2022 | 29 Nov 2022 | Sch 1 (items 156-158): 1 Mar 2023 (s 2(1) item 2) | -- |
Treasury Laws Amendment (Housing Measures No. 1) Act 2023 | 81, 2023 | 28 Sept 2023 | Sch 4 (items 1-3): 1 Nov 2023 (s 2(1) item 6) | -- |
Provision affected | How affected |
Part 1 |
|
s 3..................... | am No 146, 2018 |
s 4..................... | am No 146, 2018 |
Part 2 |
|
Division 1 |
|
s 8..................... | am No 146, 2018 |
Division 3 |
|
s 14.................... | am No 146, 2018 |
s 16.................... | am No 56, 2019; No 91, 2019; No 65, 2022; No 81, 2023 |
Part 3 |
|
Part 3 heading............. | am No 146, 2018 |
s 19.................... | am No 146, 2018 |
s 20.................... | am No 146, 2018 |
s 21.................... | am No 146, 2018 |
s 22.................... | am No 146, 2018 |
s 23.................... | am No 146, 2018 |
s 25.................... | am No 146, 2018 |
s 26.................... | am No 146, 2018 |
Part 4 |
|
s 35A................... | am No 146, 2018 |
Part 6 |
|
s 51A................... | am No 146, 2018 |