Document ID: chunk:federal_register_of_legislation:C2024C00224:section:56:p2
Version: federal_register_of_legislation:C2024C00224
Segment Type: section
Provision Reference: s 56 (pt 2/3)
Character Range: 336270–338848

the termination of the trust where:
 (i) the common law holders wish the trust to be terminated; or
 (ii) a liquidator is appointed for the body corporate; and
 (e) the determination by the Federal Court of a prescribed body corporate to perform the functions mentioned in subsection 57(3) once the trust is terminated; and
 (f) any matter in relation to the termination of the trust, the performance of those functions and the transition from the trust arrangement to the new arrangement, including the determination of those matters by the Federal Court.

Protection of native title from debt recovery processes etc.
 (5) Subject to subsection (6), native title rights and interests held by the body corporate are not able to be:
 (a) assigned, restrained, garnisheed, seized or sold; or
 (b) made subject to any charge or interest; or
 (c) otherwise affected;
as a result of:
 (d) the incurring, creation or enforcement of any debt or other liability of the body corporate (including a debt or liability owed to the Crown in any capacity or to any statutory authority); or
 (e) any act done by the body corporate.

Subsection (5) not applicable to dealings authorised by regulations
 (6) Subsection (5) does not apply if the incurring of the debt, creation of the liability or doing of the act was in connection with a dealing with the native title rights and interests authorised by regulations for the purposes of paragraph (4)(c).

Where common law holders later wish a trust be determined
 (7) The regulations may make provision in respect of:
 (a) the determination by the Federal Court of a prescribed body corporate to hold the rights and interests from time to time comprising the native title in trust for the common law holders where:
 (i) a determination is made, either under this section or under regulations made for the purposes of this section, that the rights and interests are to be held by the common law holders; and
 (ii) the common law holders wish a prescribed body corporate to instead hold those rights and interests in trust; and
 (b) the functions to be performed by the prescribed body corporate, once determined; and
 (c) the nature of any consultation with, or other role for, the common law holders; and
 (d) the circumstances in which the rights and interests may be surrendered, transferred or otherwise dealt with; and
 (e) any other matter in relation to the holding in trust of the native title rights and interests, and the transition from the former to the new arrangement, including the determination of the matter by the Federal Court.