Document ID: chunk:federal_register_of_legislation:C2024C00794:section:35:p1
Version: federal_register_of_legislation:C2024C00794
Segment Type: section
Provision Reference: s 35 (pt 1/4)
Character Range: 197650–200241

35  Application of money of Land Council
 (1) A Land Council must spend the following amounts in meeting its administrative costs or capital costs, in accordance with section 34, in the financial year in which the amounts are received or in the next financial year:
 (a) money paid to the Council under subsection 64(1);
 (b) fees the Council receives under section 33A or 33B;
 (c) other income the Council receives in relation to performing functions or exercising powers under this Act.
 (1A) Paragraph (1)(c) does not apply to:
 (a) a payment made to a Land Council as mentioned in subsection (2), (3), (4) or (4B); or
 (b) interest received by a Land Council as mentioned in subsection (11) in relation to such a payment.
 (2) Subject to this section, money paid to a Land Council under subsection 64(3) must be paid, within 6 months of its receipt by the Land Council, to any Aboriginal and Torres Strait Islander corporations whose members live in, or are the traditional Aboriginal owners of, the area affected by those mining operations, in such proportions as the Land Council determines.
 (3) Subject to this section, within 6 months after money is paid to a Land Council under an agreement made under section 42, 43, 44, 46, 48A, 48B or 48D, it must:
 (a) be applied by the Land Council in accordance with the agreement; or
 (b) if the agreement makes no provision in relation to the application of the money—be paid to any Aboriginal and Torres Strait Islander corporations whose members are affected by the agreement, in such proportions as the Land Council determines.
 (4) Where a Land Council receives a payment in respect of Aboriginal land (including a payment under section 15 or 16 or a payment under a lease or licence under section 19 or 20, but not including a payment under section 33A, 33B or 64 of this Act), the Land Council shall, within 6 months after that payment is received, pay an amount equal to that payment to or for the benefit of the traditional Aboriginal owners of the land.
 (4A) If:
 (a) a Land Council receives a payment as mentioned in subsection (4); and
 (b) the payment is made by the Commonwealth, the Northern Territory or an Authority; and
 (c) the payment is of a kind prescribed by the regulations for the purposes of this subsection; and
 (d) under subsection (4), the Land Council pays an amount equal to that payment to a person;
the Land Council must, at the time it pays that amount, advise the person in writing that the amount is an accountable amount.
Note: Sections 35B and 35C impose requirements on a body corporate in relation