"Prescribed reserve land" means any of the following land that is situated on
Thursday Island and prescribed under a regulation for this section—
(a) land reserved and set apart under the repealed Land Act 1962 for an Aboriginal reserve or for the benefit of Aboriginal inhabitants;
(b) land contained in a reserve for a community purpose that is Aboriginal purposes, or a purpose that is the provision of services beneficial to Aboriginal people particularly concerned with the land, under the Land Act .