111New South Wales Aboriginal Land Council’s responsibilities in relation to certain arrangements and transfers

#### 111 New South Wales Aboriginal Land Council’s responsibilities in relation to certain arrangements and transfers 111 New South Wales Aboriginal Land Council’s responsibilities in relation to certain arrangements and transfers > > (1) In this section— > > > > enter into includes participate in. > > > > entity means any partnership, trust, corporation, joint venture, syndicate or other body (whether or not incorporated). > > > (2) This section applies to an arrangement entered into by the New South Wales Aboriginal Land Council— > > > > > (a) for the purpose of exercising any of the Council’s functions under this Act (including providing a community benefits scheme), and > > > > > (b) that includes the formation, acquisition, operation or management of an entity. > > > (3) NSWALC to report on certain arrangements The New South Wales Aboriginal Land Council must include, in the accounts and records of the Council under this Act and the regulations, details of any operations carried out under an arrangement to which this section applies (including any activities or operations carried out by the entity formed, acquired, operated or managed and any financial matters relating to any such entity). > > > (4) Before entering into an arrangement to which this section applies, the New South Wales Aboriginal Land Council must take reasonable steps to ensure that the Council will not be prevented from complying with the Council’s reporting obligations in relation to the operations carried out under such an arrangement (including any financial matters relating to the entity formed, acquired, operated or managed under the arrangement). > > > (5) Risk assessment and approval for transfer of certain assets Before transferring assets in connection with an arrangement to which this section applies the New South Wales Aboriginal Land Council must, if required to do so by any applicable policy of the New South Wales Aboriginal Land Council (or, if no such policy exists, by the regulations)— > > > > > (a) conduct a risk assessment with respect to the proposed transfer in accordance with any applicable policy of the Council (or, if no such policy exists, the regulations), and > > > > > (b) obtain the approval of the councillors to the transfer. > > > (6) A requirement under this section that a risk assessment be conducted, or that the approval of the councillors be obtained, in relation to the proposed transfer of land in connection with an arrangement to which this section applies, is in addition to the requirements of section 42D. > > > (7) Requirement for approval resolutions A resolution that approves the New South Wales Aboriginal Land Council’s proposed transfer or disposal of an asset or termination of an arrangement under this section must contain a statement identifying the purpose of the proposed action and any conditions to which the approval is subject. > > > (8) Approval of termination of certain arrangements The New South Wales Aboriginal Land Council may not terminate an arrangement to which this section applies, or dispose of an interest in an entity formed, acquired, operated or managed under such an arrangement, otherwise than in accordance with the approval of the councillors. > > **s 111:** Ins 2001 No 118, Sch 1 \[17\]. Subst 2006 No 111, Sch 1 \[47\]; 2014 No 75, Sch 1 \[43\]. Am 2015 No 15, Sch 1.1 \[2\].