sec.71Transfer of Torres Strait Islander land

### sec.71 Transfer of Torres Strait Islander land The trustee of the Torres Strait Islander land (the transferor ) may transfer all or a part of the land only— with the Minister’s written approval; and to either of the following entities (the transferee )— another land trust; a CATSI corporation that is qualified to hold the land. If a trustee transfers land under this subdivision— all improvements on the land must be transferred with the land; and for a transferee that is a registered native title body corporate—the transferee holds the land for— the native title holders of the land, if the transferor and the transferee agree it is to be held for the native title holders; or the benefit of Torres Strait Islanders particularly concerned with the land and their ancestors and descendants, if subparagraph (i) does not apply to the transfer; and for a transferee that is not a registered native title body corporate—the transferee holds the land for the benefit of the Torres Strait Islanders particularly concerned with the land and their ancestors and descendants; and if all the Torres Strait Islander land held by the trustee is transferred to the transferee— the land trust for the land that is transferred is dissolved; and all the assets and liabilities of the trustee become the assets and liabilities of the transferee; and if paragraph (c) does not apply—the assets and liabilities of the trustee mentioned in section 73 (1) (a) (ii) become the assets and liabilities of the transferee. s 71 ins 2011 No. 26 s 165 amd 2019 No. 7 s 305 (sec.71-ssec.1) The trustee of the Torres Strait Islander land (the transferor ) may transfer all or a part of the land only— with the Minister’s written approval; and to either of the following entities (the transferee )— another land trust; a CATSI corporation that is qualified to hold the land. (sec.71-ssec.2) If a trustee transfers land under this subdivision— all improvements on the land must be transferred with the land; and for a transferee that is a registered native title body corporate—the transferee holds the land for— the native title holders of the land, if the transferor and the transferee agree it is to be held for the native title holders; or the benefit of Torres Strait Islanders particularly concerned with the land and their ancestors and descendants, if subparagraph (i) does not apply to the transfer; and for a transferee that is not a registered native title body corporate—the transferee holds the land for the benefit of the Torres Strait Islanders particularly concerned with the land and their ancestors and descendants; and if all the Torres Strait Islander land held by the trustee is transferred to the transferee— the land trust for the land that is transferred is dissolved; and all the assets and liabilities of the trustee become the assets and liabilities of the transferee; and if paragraph (c) does not apply—the assets and liabilities of the trustee mentioned in section 73 (1) (a) (ii) become the assets and liabilities of the transferee. - (a) with the Minister’s written approval; and - (b) to either of the following entities (the transferee )— (i) another land trust; (ii) a CATSI corporation that is qualified to hold the land. - (i) another land trust; - (ii) a CATSI corporation that is qualified to hold the land. - (i) another land trust; - (ii) a CATSI corporation that is qualified to hold the land. - (a) all improvements on the land must be transferred with the land; and - (b) for a transferee that is a registered native title body corporate—the transferee holds the land for— (i) the native title holders of the land, if the transferor and the transferee agree it is to be held for the native title holders; or (ii) the benefit of Torres Strait Islanders particularly concerned with the land and their ancestors and descendants, if subparagraph (i) does not apply to the transfer; and - (i) the native title holders of the land, if the transferor and the transferee agree it is to be held for the native title holders; or - (ii) the benefit of Torres Strait Islanders particularly concerned with the land and their ancestors and descendants, if subparagraph (i) does not apply to the transfer; and - (c) for a transferee that is not a registered native title body corporate—the transferee holds the land for the benefit of the Torres Strait Islanders particularly concerned with the land and their ancestors and descendants; and - (d) if all the Torres Strait Islander land held by the trustee is transferred to the transferee— (i) the land trust for the land that is transferred is dissolved; and (ii) all the assets and liabilities of the trustee become the assets and liabilities of the transferee; and - (i) the land trust for the land that is transferred is dissolved; and - (ii) all the assets and liabilities of the trustee become the assets and liabilities of the transferee; and - (e) if paragraph (c) does not apply—the assets and liabilities of the trustee mentioned in section 73 (1) (a) (ii) become the assets and liabilities of the transferee. - (i) the native title holders of the land, if the transferor and the transferee agree it is to be held for the native title holders; or - (ii) the benefit of Torres Strait Islanders particularly concerned with the land and their ancestors and descendants, if subparagraph (i) does not apply to the transfer; and - (i) the land trust for the land that is transferred is dissolved; and - (ii) all the assets and liabilities of the trustee become the assets and liabilities of the transferee; and