Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) In performing its functions, Indigenous Business Australia shall act in accordance with sound business principles.
(2) For the purpose of the performance of Indigenous Business Australia's functions, the Indigenous Business Australia Board must have regard to the desirability of:
(a) encouraging and facilitating Aboriginal and Torres Strait Islander participation in commercial projects and enterprises;
(b) securing, as far as practicable, Aboriginal and Torres Strait Islander participation in the ownership and control of companies engaged in activities that are likely to have a significant impact on Aboriginal or Torres Strait Islander interests;
(c) promoting the development of industries and other commercial and economic activities that are likely to have a beneficial impact on Aboriginal or Torres Strait Islander interests; and
(d) making specialist commercial expertise available to Aboriginal persons and Torres Strait Islanders engaged in commercial activities.
(3) This section does not apply to:
(a) business loans or housing loans made, or treated as having been made, by Indigenous Business Australia; or
(b) any grants made, or treated as having been made, by Indigenous Business Australia in relation to business loans or housing loans; or
(c) guarantees provided, or treated as having been provided, by
Indigenous Business Australia in relation to business loans or housing loans.