7Functions of the Executive Director (Act s 20C)

7 Functions of the Executive Director (Act s 20C)

(1) For the purposes of paragraph 20C(c) of the Act, the Executive Director has the functions prescribed by this regulation if: (a) an approved entity holds, or may become the holder of, a lease (the main interest) under section 19A of the Act; or (b) the Executive Director has transferred, or is considering transferring, a sublease (the main interest) to an Aboriginal and Torres Strait Islander corporation under subsection 20CB(1) of the Act. (2) The Executive Director may, on behalf of the Commonwealth, enter into an agreement with the entity or corporation under which the Executive Director will provide to the entity or corporation services related to administering: (a) the main interest; or (b) a sublease or other right or interest derived from the main interest. (3) The Executive Director must provide the services in accordance with the agreement. (4) The agreement may provide for the payment of fees to the Commonwealth for the provision of the services by the Executive Director. (5) A fee provided for by the agreement must not be such as to amount to taxation.