Monetary Assets

The Northern Land Council (NLC) maintains a Royalty Trust Account. Monies received on behalf of Associations of Aboriginal people and individuals, in accordance with Section 35 of the Aboriginal Land Rights (Northern Territory) Act 1976 (ALRA), and the Native Title Act 1993 are held in the royalty trust account, and are distributed according to the terms and conditions of the individual agreements. These monies mainly come from government agencies, mining and exploration companies and various commercial operators. Majority of the agreements are continuous agreements whereas some are one off agreements. These monies are not available for other purposes and are not recognised in the financial statement of the Northern Land Council and the Group.

Non-monetary Assets

The NLC had no non-monetary assets held in trust in both the current and prior reporting periods.

The reporting requirements of the Aboriginal Land Rights (Northern Territory) Act 1976 are detailed in section 37 (3) - (5), and refer to the application of monies received by the NLC under various sections of the Act, in particular under sub-section 64(3).

Determination Pursuant to Section 35(2) Aboriginal Land Rights (Northern Territory) Act 1976

Gove Rio Alcan project royalty equivalents received pursuant to Section 64(3)

The Northern Land Council (NLC) determines pursuant to sub-section 35(2) that for the next 5 years (subject to any further determination within that period) amounts equal to all monies received under s.64(3) with respect to the Gove Alcan Project are to be apportioned and paid as follows:-

Gumatj Aboriginal Corporation 65%

Rirratjingu Aboriginal Corporation 20%

Laynhapuy Homelands Aboriginal Corporation 15%

Resolution Number: C110/4784

Note: This determination will expire on 17 June 2020.

Determination Pursuant to Section 35(2) Aboriginal Land Rights (Northern Territory) Act

Ranger Project royalty equivalents received pursuant to Section 64(3)

The NLC determines pursuant to sub-section 35(2) that for the next 5 years amounts equal to all monies received under s.64(3) with respect to the Ranger Project are to be paid to Gundjeihmi Aboriginal Corporation.

Resolution Number: C 110/4785

Note: This determination will expire on 17 June 2020.

Community Planning and Development Fund:

The NLC’s Community Planning and Development (CP&D) Program, endorsed by the NLC Full Council in November 2016 and commenced in the financial year 2017-18, supports groups of Aboriginal people to plan and implement projects that bring lasting community benefit (social, cultural, economic, environmental), using income that they receive from land use agreements. It is a voluntary, consent-based approach based on the principles of Aboriginal people self-determination and participation, with Aboriginal people control and decisionmaking at every step. Approved CP&D Program designated funds are held on trust by the NLC for community benefit purposes, and then applied in accordance with the consultation and planning processes set out in the CP&D Program. Where there is a decision by Traditional Owners to set aside monies from payments in respect of Aboriginal land for community development projects, the NLC and its CP&D Program administer those funds in accordance its obligations under the Aboriginal Land Rights (Northern Territory) Act 1976 (ALRA).