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TORRES STRAIT ISLANDER LAND ACT 1991 - SECT 28D
Trustee may make freehold instrument
28D Trustee may make freehold instrument
(1) The trustee of freehold option land may, by resolution, make a schedule
identifying the freehold option land available to be granted in freehold.
(2)
The freehold schedule must identify the freehold option land so the boundaries
of the land are capable of being decided.
(3) Freehold option land identified
in a freehold schedule is
"available land" .
(4) A freehold schedule that only identifies freehold
option land of a type prescribed by regulation for this subsection is a
"model freehold schedule" .
(5) If the trustee makes a freehold schedule, the
trustee must, by resolution, make a policy (a
"freehold policy" ) at the same time to help the trustee in implementing the
freehold schedule.
(6) The freehold policy must be in the approved form and
state— (a) the criteria (the
"eligibility criteria" ) for participating in the allocation process for
available land; and
(b) if there is no interest holder for
available land—the allocation method for available land; and
(c) the sale
price of available land and the costs to be recovered from the sale price; and
(d) the sale price of available land and the costs to be recovered from the
sale price; and
(e) how the trustee will deal with interests in, or in
relation to, available land, before it is allocated; and
(f) the social and
financial implications for the community in providing freehold; and
(g) the
social and financial implications for any eligible person who is granted
freehold; and
(h) the potential to attract investment and new members into
the community; and
(i) any other matter prescribed by regulation.
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