Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to this section:
(a) a determination by the arbitral body; or
(b) an agreement of the kind mentioned in paragraph 31(1)(b);
that the act may be done subject to conditions being complied with by the parties has effect, if the act is done, as if the conditions were terms of a contract among the negotiation parties. The effect is in addition to any other effect that the agreement or determination may have apart from this subsection.
Other negotiation parties
(2) If a native title party is a registered native title claimant, any other person included in the native title claim group concerned is taken to be a negotiation party for the purposes only of subsection (1).
Bank guarantee condition
(3) If, in the case of a determination by an arbitral body, a condition to be complied with is that an amount is to be secured by bank guarantee:
(a) the arbitral body must:
(i) determine the amount; and
(ii) specify the person who must secure the amount in that way; and
(b) the condition is not complied with unless:
(i) the guarantee is given by an authorised deposit - taking institution within the meaning of the Banking Act 1959 ; and
(ii) the guarantee is secured in favour of the Registrar; and
(iii) regulations made under subsection (4) are complied with.
(4) The regulations may make provision in relation to the securing of an amount by bank guarantee in compliance with such a condition, and any other matter in relation to such a guarantee.
Trust condition
(5) If, in the case of a determination by the arbitral body, a condition to be complied with is that an amount is to be paid and held in trust until it is dealt with in accordance with section 52A:
(a) the arbitral body must determine the amount; and
(b) the amount, when paid, must be held in trust in accordance with the regulations until it is dealt with in accordance with section 52A.
Note: The NNTT cannot determine compensation (see Division 5 of this Part and Division 1 of Part 3). However, if the arbitral body is not the NNTT, it may be able to do so.