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ABORIGINAL LAND REGULATION 2011 - REG 26
Application of insurance money
26 Application of insurance money
(1) An amount received or receivable under a policy of insurance for the loss
or damage to trust property held, owned or leased by a land trust is part of
the capital of the trust property.
(2) The whole or a part of the amount
received or receivable may also be applied by the land trust (and is to be
applied if ordered by the Supreme Court) in rebuilding, reinstating, replacing
or repairing the property lost or damaged.
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