191EManagement functions of Indigenous Land and Sea Corporation

#### 191E Management functions of Indigenous Land and Sea Corporation Functions (1) The management functions of the Indigenous Land and Sea Corporation are as follows: (a) to carry on, or arrange for the carrying on of, management activities in relation to indigenous‑held land under agreements with the holders of the land; (b) to carry on, or arrange for the carrying on of, management activities in relation to land held by the Indigenous Land and Sea Corporation; (c) to carry on other management activities in relation to indigenous‑held land; (ca) to carry on, or arrange for the carrying on of, management activities in relation to indigenous waters; (cb) to carry on, or arrange for the carrying on of, management activities in relation to water, or waters, in relation to which the Indigenous Land and Sea Corporation holds water‑related rights; (d) to make grants of money for the carrying on of management activities in relation to indigenous‑held land and indigenous waters; (e) to make loans of money (whether secured or unsecured) for the purpose of carrying on management activities in relation to indigenous‑held land and indigenous waters; (f) to guarantee loans made for the purpose of carrying on management activities in relation to indigenous‑held land and indigenous waters. > Note 1: Management activities is defined by subsection (5). > Note 2: Indigenous‑held land is defined by section 4B. > Note 3: Holder is defined by section 4. > Note 4: Indigenous waters is defined by section 4. Management activities relating to particular indigenous‑held land (1A) Paragraph (1)(c) does not authorise the Indigenous Land and Sea Corporation to carry on a management activity in relation to particular indigenous‑held land otherwise than under an agreement with the holder of the land. Management activities relating to indigenous waters (1B) Paragraph (1)(ca) does not authorise the Indigenous Land and Sea Corporation to carry on a management activity in relation to indigenous waters in a manner inconsistent with the rights and interests of other persons. Grants—terms and conditions (2) The Indigenous Land and Sea Corporation may make a grant of money on terms and conditions that must relate to: (a) the purposes for which the money may be spent; or (b) the period within which the money is to be spent; or (c) the acquittal of money spent; or (d) the giving of information in relation to the grant. If the grant becomes repayable because of a breach of such a term or condition, the Indigenous Land and Sea Corporation must take all reasonable steps to recover the repayment. Loans—terms and conditions (2A) The Indigenous Land and Sea Corporation may make a loan of money on terms and conditions that must relate to: (a) the purposes for which the money may be spent; or (b) the period within which the money is to be spent; or (c) the acquittal of money spent; or (d) the giving of information relating to the loan; or (e) the repayment of the loan; or (f) the payment of interest (including interest on interest); or (g) if the loan is secured—the loan security. Guarantees—terms and conditions (2B) A guarantee is subject to such terms and conditions as the Indigenous Land and Sea Corporation determines. Performance of functions (3) For the purposes of the performance of the Indigenous Land and Sea Corporation’s management functions, the Indigenous Land and Sea Corporation must give priority to the following: (a) pursuing sound land, water and environmental management practices; (b) pursuing a policy of granting money or making loans only where the Indigenous Land and Sea Corporation considers that alternative approaches (such as guaranteeing loans obtained from external sources or carrying on management activities under an agreement with the holders of indigenous‑held land) are impracticable; (c) in a case where the Indigenous Land and Sea Corporation carries on, or arranges for the carrying on of, management activities under agreements with holders of indigenous‑held land—directly involving the holders of the land in those activities. Agreements may involve third parties (4) A reference in this section to an agreement with the holder of indigenous‑held land includes a reference to an agreement with the holder, where one or more other persons are parties to the agreement. Definition (5) In this section: > management activities means activities that consist of, or relate to, the managed use, care or improvement of land, water or waters, and includes the following: (a) carrying on a business that involves the use, care or improvement of land, water or waters; (b) providing any of the following services (whether on a commercial basis or otherwise) in connection with a business that involves the use, care or improvement of land, water or waters: (i) management services; (ii) clerical or administrative services; (iii) services relating to financial administration; (iv) technical or professional services; (v) advisory services; (vi) similar services; (c) providing environmental management services (whether on a commercial basis or otherwise) in relation to the use, care or improvement of land, water or waters; (d) providing training (whether on a commercial basis or otherwise) in the skills and knowledge relevant to: (i) the carrying on of a business that involves the use, care or improvement of land, water or waters; or (ii) the managed use, care or improvement of land, water or waters; (e) disseminating information (whether on a commercial basis or otherwise) about: (i) land management practices and water management practices; and (ii) environmental management practices relating to land, water or waters.