Transfer of investments of the Aboriginal and Torres Strait Islander Land Account
11 Transfer of investments of the Aboriginal and Torres Strait Islander Land Account
Scope
This section applies to a financial asset if, immediately before the commencement of this section, the asset represented the investment of an amount standing to the credit of the Aboriginal and Torres Strait Islander Land Account.
The Aboriginal and Torres Strait Islander Land Account was continued in existence by repealed section 192W of the Aboriginal and Torres Strait Islander Act 2005.
Transfer
After the commencement of this section, the financial asset is taken to be an investment of the Aboriginal and Torres Strait Islander Land and Sea Future Fund.
A soon as practicable after the commencement of this section, the Treasurer or the Finance Minister must cause the financial asset to be transferred to the Future Fund Board.
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