Commonwealth Numbered Acts

ABORIGINAL DEVELOPMENT COMMISSION ACT 1980 No. 34 of 1980 - SECT 24

24. (1) For the purposes of enabling Aboriginals to engage in business
enterprises, moneys of the General Fund may, subject to sub-section (3), be
applied-

   (a)  in making loans (including loans for the purpose of the acquisition
        from the Commission of shares or stock in the capital of a company
        held by the Commission) on such terms and conditions as are determined
        by the Commission;

   (b)  in subscribing for, or otherwise acquiring, shares or stock in the
        capital of a company;

   (c)  in making grants of money to Aboriginal bodies on such terms and
        conditions as are determined by the Commission;

   (d)  in the acquisition of property in pursuance of section 28; and

   (e)  in making payments in respect of the investigation or supervision of,
        or the provision of accounting services, management advice or
        technical assistance for or in relation to, a business enterprise in
        relation to which-

        (i)    moneys may be, or have been, applied in accordance with
               paragraph (a), (b) or (c);

        (ii)   a guarantee may be, or has been, given under section 30; or

        (iii)  property has been, or may be, acquired or otherwise dealt with
               in pursuance of section 28.

(2) Moneys of the General Fund may also be applied-

   (a)  in making payments incidental to the application of moneys in
        accordance with paragraph (1) (a), (b), (c), (d) or (e); and

   (b)  in meeting any liability under a guarantee given under section 30.

(3) The Commission shall not apply moneys of the General Fund under this
section for the purpose of enabling an Aboriginal or Aboriginals to engage in
a business enterprise unless the Commission is satisfied that the Aboriginal
is, or the Aboriginals are, capable of engaging in that enterprise.

(4) Where the Commission informs an Aboriginal body to which a grant has been
made under paragraph (1) (c) that the Commission is satisfied that the body
has failed to fulfil any term or condition of the grant, the body shall be
liable to repay to the Commission an amount equal to the amount of the grant,
or an amount equal to so much of the grant as the Commission determines.