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Contents (1983 - 42)
Aboriginal Land Rights Act 1983 No 42
Current version for 3 April 2017 to date (accessed 24 November 2017 at 11:22)
Part 2 Division 3 Section 38
38   Purchase, lease etc of property
(1)  The New South Wales Aboriginal Land Council or a Local Aboriginal Land Council may purchase, take on lease or hold any property or may acquire property by gift inter vivos, devise or bequest.
(1A)  Despite subsection (1), a Local Aboriginal Land Council may purchase land only if:
(a)  the purchase price for the land is not more than 5% above the market value of the land, as assessed by a qualified valuer who is appointed by the Local Aboriginal Land Council, or
(b)  the New South Wales Aboriginal Land Council has given its written approval to that purchase.
(2)  The New South Wales Aboriginal Land Council or a Local Aboriginal Land Council may agree to the condition of any gift, devise or bequest to it, and the rule of law relating to perpetuities does not apply to any condition to which the Council has agreed under this section.
(3)  Property acquired by the New South Wales Aboriginal Land Council or a Local Aboriginal Land Council subject to a condition to which the Council has agreed shall not be dealt with by the Council except in accordance with the condition.
(4)    (Repealed)
(5)  Nothing in this Act prevents the vesting of lands pursuant to Division 3 of Part 4A of the NPW Act in more than one Local Aboriginal Land Council as tenants in common.
Note.
 Division 3 of Part 4A of the NPW Act deals, among other matters, with the vesting in an Aboriginal Land Council or Councils of lands, reserved or dedicated under that Act, that are of cultural significance to Aboriginals and that are listed in Schedule 14 to that Act.
(6)  Subject to the regulations, a reference in this section to a qualified valuer is a reference to a person who:
(a)  has membership of the Australian Valuers Institute (other than associate or student membership), or
(b)  has membership of the Australian Property Institute (other than student or provisional membership), acquired in connection with his or her occupation as a valuer, or
(c)  has membership of the Royal Institution of Chartered Surveyors as a chartered valuer, or
(d)  is of a class prescribed by the regulations.