Objects and purpose: The Act sets out the Trust’s principal objects in section 7. These are concrete operational aims: to maintain and improve the Trust lands, the National Herbarium and living/preserved plant collections (s 7(1)(a)); to increase and disseminate knowledge about Australian and New South Wales plant life (s 7(1)(b)); and to encourage public use and enjoyment of the Trust lands through educational, historical, cultural and recreational programming (s 7(1)(c)). The Act directs particular emphasis to systematic botany and plant conservation (s 7(2)). These expressed objects are the statutory lens the Trust must apply when exercising powers such as granting leases and licences (see s 20AB(2)).
Corporate form, governance and accountability: The Trust is a statutory corporation constituted by s 5(1). It has seven trustees appointed by the Governor on the Minister’s recommendation (s 6(1)), and Schedule 1 governs trustee eligibility, appointment length, removal, quorum and voting rules (Schedule 1 cll 1-9). The Trust is subject to the control and direction of the Minister when exercising its functions (s 5(3)), and the Minister nominates the Chairperson (Schedule 1 cl 8). Personal civil liability for acts or omissions done in good faith in executing functions under the Act is excluded for the Trust, trustees and persons acting under direction; instead, liability attaches to the Crown (Schedule 1 cl 9A).
Land tenure and vesting: The Act vests specified land in the Trust for an estate in fee simple (s 19(1), Schedule 2). It discharges many prior trusts and obligations attaching to land first inserted into Schedule 2 (s 19(1A)), subject to specified exceptions (s 19(3)-(6)). Section 19(2) provides that those lands cannot be appropriated or resumed except by an Act of Parliament; subsection (1B) allows the Governor by proclamation to amend Schedule 2 to add Crown land or other Crown land for the purpose of inclusion in Parts 1-3, and s 19A creates a specific statutory pathway for acquisition of substratum by Sydney Metro for underground rail facilities (s 19A(1)).
Constraints on disposition and property management: The Trust is expressly prohibited from selling, mortgaging or otherwise disposing of Trust lands described in Schedule 2 (s 9), although the Trust may deal with such lands in accordance with s 20 (which permits leases, licences and easements under defined conditions). Property acquired by gift inter vivos, devise or bequest may generally not be sold unless acquired without condition and Governor approval is given, or if acquired subject to a condition then in accordance with that condition or s 11 (s 10(3)-(4)). Where the Trust resolves property acquired subject to a condition is not required, sale, exchange, gift or other disposal may occur only with the Governor’s consent (s 11).
Revenue, endowment and financing: The Trust may charge fees subject to regulations and keep those amounts as Trust property (s 8(1)(h)). Section 15 establishes an annual endowment payable by the Treasurer out of money provided by Parliament, for specified purposes (acquisition of specimens, trustee/committee remuneration, and subject to s 15(2), other expenditure). The statutory fund may not be used for staff remuneration or general operating expenses (s 15(2)). The Trust’s borrowing is limited to arrangements permitted by Part 4 (s 8(10)), which centralises financial constraints.
Land‑use approvals, transparency and procurement: The Act sets a framework for commercial and other leases on Trust lands (s 20), including caps on total term (50 years, s 20(3)), Ministerial consent requirements for terms exceeding five years (s 20(3A)), an open tender requirement for leases or licences of 10 years or more (s 20AA), and additional public consultation and statement-of-reasons obligations for proposed grants with terms of 35 years or more (s 20AB). For certain specifically identified sites, s 20A allows leases up to 50 years and requires Minister consultation with the Treasurer before the Trust calls expressions of interest or grants leases for specified lands.
Regulatory enforcement and penalties: The Governor may make regulations for the use and enjoyment of Trust lands and to set fees for uses such as entry or filming (s 22). Regulations may impose penalties of up to 10 penalty units (s 22(4)). The Act creates a mechanism for penalty notices issued by prescribed officers (s 22B) and makes vehicle owners liable for parking offences unless they nominate the driver or satisfy other defences (s 22A). Penalty notices are handled under the Fines Act 1996 (s 22B(3)).
Transitional provisions: Schedule 3 transfers property, rights and liabilities from former trustees to the Trust, deems certain by‑laws to be regulations under this Act, validates certain licences and protects continuity of contracts and legal proceedings (Schedule 3 clls 2-5, 10).
These core concepts govern who does what, who pays, and what constraints apply to revenue generation and land-use, with procedural transparency added for longer term disposals and specific exceptions created for public infrastructure.