Existing corporations established by Local Aboriginal Land Councils
61 Existing corporations established by Local Aboriginal Land Councils
This clause applies in relation to a corporation (an existing corporation) that was established or acquired by a Local Aboriginal Land Council under the Corporations Act 2001 of the Commonwealth before the commencement of section 52(5B) (as inserted by the amending Act).
If an existing corporation is not a corporation or kind of corporation that is authorised under section 52(5B) to be established or acquired by the Local Aboriginal Land Council, the Council is, within 2 years of the commencement of section 52(5B), to take such steps as are required by the regulations to cease any involvement in the operation or management of the corporation.
This clause ceases to have effect on the amendment of section 52 by the Aboriginal Land Rights Amendment (Local Aboriginal Land Councils) Act 2017.
This provision refers to the regulations (the regulations
). Made under this Act:
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