(1) If:
(a) land is the subject of a deed of grant held in escrow by a Land Council on the condition that the Land Council deliver the deed to a Land Trust when all of the estates and interests in the land held by a person (other than the Crown) have come to an end; and
(b) a person (the proponent ) desires to obtain an estate or interest in the land;
the proponent may make representations to the Land Council concerning the proponent's plans for the land.
(2) At any time before the deed is delivered to the Land Trust, the Land Council may agree with the proponent that the Land Council will, if the deed is delivered to the Land Trust, direct the Land Trust to grant the proponent an estate or interest in the land.
(3) The agreement must specify the terms and conditions on which the proposed grant is to be made.
(4) The Land Council must not enter into the agreement unless it is satisfied that:
(a) the traditional Aboriginal owners (if any) of the land understand the nature and purpose of the proposed grant and, as a group, consent to it; and
(b) any Aboriginal community or group that may be affected by the proposed grant has been consulted and has had adequate opportunity to express its view to the Land Council; and
(c) the terms and conditions on which the proposed grant is to be made are reasonable.
(5) The agreement is binding on any successors to the Land Council.
(6) The Land Council must, immediately after the deed is delivered to the Land Trust, in writing direct the Land Trust to grant an estate or interest in the land on the terms and conditions set out in the agreement.
(7) A failure to comply with subsection (4) does not invalidate the agreement.
(8) To avoid doubt, the agreement does not create an estate or interest in the land that would prevent the deed from being delivered to the Land Trust.
(9) For the purposes of this section, an estate or interest in land includes a mining interest or licence in respect of the land.