sec.273Court’s jurisdiction to make orders conferring power on land trust or members

sec.273 Court’s jurisdiction to make orders conferring power on land trust or members

This section applies if, in the Supreme Court’s opinion, a disposition or transaction— is expedient for the management or administration of trust property by a land trust or members of a land trust; or would be in the best interest of the Aboriginal people, or a majority of the Aboriginal people, for whose benefit the property is held; but— it is inexpedient, difficult or impractical to effect the disposition or transaction without the assistance of the Supreme Court; or the land trust or members do not have power under the Act to effect the disposition or transaction. The Supreme Court may— confer on the land trust or members the necessary power for the purpose of effecting the disposition or transaction (other than a power to sell or mortgage Aboriginal land), on such terms and subject to any conditions, as the court considers appropriate; and direct the way that— any amount authorised to be spent, and the costs of the disposition or transaction, are to be paid or borne from trust property; and the amount is to be apportioned between the capital and income of the trust property. The Supreme Court may— rescind or vary an order under this section; or make a new or further order. The rescission or variation of an order does not affect anything done by a person relying on the order before the person became aware of the application to the court to rescind or vary the order. An application to the court under this section may be made by— a land trust; or a member of a land trust; or a person for whose benefit the trust property is held. In this section— disposition means a sale, lease, mortgage, surrender, release or another type of disposition. transaction means a purchase, investment, acquisition, retention, expenditure or another type of transaction. s 273 ins 2011 No. 26 s 78 (sec.273-ssec.1) This section applies if, in the Supreme Court’s opinion, a disposition or transaction— is expedient for the management or administration of trust property by a land trust or members of a land trust; or would be in the best interest of the Aboriginal people, or a majority of the Aboriginal people, for whose benefit the property is held; but— it is inexpedient, difficult or impractical to effect the disposition or transaction without the assistance of the Supreme Court; or the land trust or members do not have power under the Act to effect the disposition or transaction. (sec.273-ssec.2) The Supreme Court may— confer on the land trust or members the necessary power for the purpose of effecting the disposition or transaction (other than a power to sell or mortgage Aboriginal land), on such terms and subject to any conditions, as the court considers appropriate; and direct the way that— any amount authorised to be spent, and the costs of the disposition or transaction, are to be paid or borne from trust property; and the amount is to be apportioned between the capital and income of the trust property. (sec.273-ssec.3) The Supreme Court may— rescind or vary an order under this section; or make a new or further order. (sec.273-ssec.4) The rescission or variation of an order does not affect anything done by a person relying on the order before the person became aware of the application to the court to rescind or vary the order. (sec.273-ssec.5) An application to the court under this section may be made by— a land trust; or a member of a land trust; or a person for whose benefit the trust property is held. (sec.273-ssec.6) In this section— disposition means a sale, lease, mortgage, surrender, release or another type of disposition. transaction means a purchase, investment, acquisition, retention, expenditure or another type of transaction.