Speaker 1:
In this video, we will talk about what the roles, rights, and responsibilities of shareholders, the Committee of Management, and Victorian Government under the Aboriginal Lands Act 1970.
Speaker 2:
Shareholders own shares in the Trust. Under the Act, shareholders have a right to attend meetings and vote on issues, elect the Trust's Committee of Management, inspect the share register, be informed about changes to the register within 28 days, be informed about a general meeting or annual general meeting at least 14 days prior, request and receive a certificate from the Trust that shows the shares that they hold.
Speaker 1:
The Committee of Management makes decisions about the Trust and ensures it complies with the Act. The Committee of Management is required to maintain the share register. This includes informing shareholders in writing when the register is updated, provide inspection of the register on request, hold the annual general meeting and one additional general meeting per year, ensure that there is a financial auditor appointed and records are up to date, provide documents to the Minister. The committee can also apply to the Minister for an exemption or extra time to meet requirements under the Act.
Speaker 2:
The Department of Premier and Cabinet is responsible for supporting the Minister for Treaty and First Peoples to administer the Act.
Speaker 1:
For more information, visit www.firstpeoplesrelations.vic.gov.au/aboriginallandrights
Updated