Where trustee
(1) If the determination under section 56 is that the native title rights and interests are to be held in trust by a prescribed body corporate, the prescribed body corporate, after becoming a registered native title body corporate (see the definition of that expression in section 253), must also perform:
(a) any other functions given to it as a registered native title body corporate under particular provisions of this Act; and
(b) any functions given to it as a registered native title body corporate under the regulations (see section 58).
Where not trustee
(2) If the determination under section 56 is not as mentioned in subsection (1) of this section, the Federal Court must take the following steps in determining which prescribed body corporate is, after becoming a registered native title body corporate, to perform the functions mentioned in subsection (3):
(a) first, it must request a representative of the common law holders to:
(i) nominate, in writing given to the Federal Court within a specified period, a prescribed body corporate for the purpose; and
(ii) include with the nomination the written consent of the body corporate;
(b) secondly, if a prescribed body corporate is nominated in accordance with the request, the Federal Court must determine that the body is to perform the functions;
(c) thirdly, if no prescribed body corporate is nominated in accordance with the request, the Federal Court must, in accordance with the regulations, determine which prescribed body corporate is to perform the functions.
Functions where not trustee
(3) After becoming a registered native title body corporate, the body must perform:
(a) any functions given to it as a registered native title body corporate under particular provisions of this Act; and
(b) any functions given to it under the regulations (see section 58).