Document ID: chunk:federal_register_of_legislation:C2024C00482:clause:1_199:p3
Version: federal_register_of_legislation:C2024C00482
Segment Type: clause
Provision Reference: sch 1 cl 199 (pt 3/4)
Character Range: 68676–70929

amount equal to the sum of:
 (a) in the case of a grant:
 (i) the amount of the grant; or
 (ii) so much of the amount of the grant as was specified in the notice; and
 (b) in the case of a loan:
 (i) so much of the amount of the loan as has not yet been repaid; and
 (ii) any accrued interest that has not been paid;
  or so much of that amount as was specified in the notice.
(9) If:
 (a) before ATSIC abolition day, the Commission had made a grant under section 14 of the ATSIC Act to a person or body from the Regional Land Fund on particular terms and conditions; and
 (b) on ATSIC abolition day the grant is declared to be a class B exempted asset;
then:
 (c) the Indigenous Land Corporation is treated, on and after that day, as if it had made the grant on the same terms and conditions; and
 (d) if the Indigenous Land Corporation is satisfied that the person or body has failed to fulfil such a term or condition—the Corporation may give notice to the person or body receiving the grant that the Corporation is so satisfied; and
 (e) if the Commission had, before ATSIC abolition day, given a notice under section 20 of the ATSIC Act to the effect that the Commission was satisfied that the person or body receiving the grant had failed to fulfil a term or condition of the grant—that notice has effect, on and after that day, as if it had been given by the Indigenous Land Corporation under paragraph (d).
(10) A notice given, or treated as having been given, by the Indigenous Land Corporation under paragraph (9)(d) is not a legislative instrument for the purposes of the Legislative Instruments Act 2003.
(11) A person or body to whom a notice is given, or treated as having been given, by the Indigenous Land Corporation under subitem (9) is liable to pay to the Corporation, immediately, an amount equal to:
 (a) the amount of the grant; or
 (b) so much of the amount of the grant as was specified in the notice.
(12) This item does not affect the availability to the Commonwealth, to Indigenous Business Australia or to the Indigenous Land Corporation, of any legal or equitable remedy for a failure to fulfil a term or condition of a grant or loan that was made by the Commission before ATSIC abolition day under Part 2 of the ATSIC Act.