Speaker 1:
In this video, we will explain how to transfer shares under the Aboriginal Lands Act 1970.
Speaker 2:
Under the Act, shareholders at Framlingham Aboriginal Trust and Lake Tyers Aboriginal Trust own shares in the Trust. A person becomes a shareholder by receiving or purchasing shares. If you're a shareholder, you can transfer or sell your shares, but there are some conditions.
Speaker 1:
Shares can be transferred to immediate family members. This could be your partner, brother, sister, grandkid, aunt, uncle, or cousin. There are a few documents that you need to get ready and fill out to transfer a share. The first is the Instrument of Transfer Form. This is a legal document and you can find this form online or pick it up at the Trust office. You will also need a certified copy of identity document for the person transferring the shares, a certified copy of identity document for the person receiving the shares, a statutory declaration by the person transferring the shares, a statutory declaration by the person receiving the shares.
Speaker 2:
When completed, submit these documents to the Trust's Committee of Management. The Committee of Management must approve the share transfer and update the share register for the share transfer to be finalised. The Trust must notify all shareholders within 28 days.
Speaker 1:
For more information and to download the Instrument of Transfer Form, visit www.firstpeoplesrelations.vic.gov.au/aboriginallandrights.
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