Nigel Scullion (NT, Country Liberal Party, Deputy Leader of the Nationals) Share this | Hansard source

asked the Minister representing the Minister for Families, Community Services and Indigenous Affairs and the Minister for Disability Reform, upon notice, on 22 November 2012:

(1) Can the Minister provide an explanation as to how the distribution of royalty equivalents operates under the Aboriginal Land Rights (Northern Territory) Act 1976, in particular:

(a) which bodies are responsible for the distribution of royalty payments;

(b) which bodies are responsible for investing royalty funds, given that some royalty payments are withheld and invested rather than distributed directly to traditional owners;

(c) what probity arrangements are in place to protect the invested funds; and

(d) how traditional owners are kept fully informed about the status of the royalties invested on their behalf.

(2) Given that there are parallels to superannuation, where a proportion of a person's income is invested on their behalf, are there any similar protections in place for traditional owners in terms of the investment of their royalties.