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Part Six

22 Finance

The State will provide ongoing funding and, subject to a special appropriation passing through Parliament, secure a capped special appropriation, sufficient to ensure that the Treaty Authority can effectively undertake its functions and duties and exercise its powers under this Agreement, the Framework, the Treaty Act and the Treaty Authority Act.

The Treaty Authority will provide audit reports to the Parties within 30 days of the audit being concluded. Financial information must also be included in the annual report under clause 21.

The Treaty Authority must make and keep written financial records that:

  • correctly record and explain the Treaty Authority’s transactions, financial position and performance and
  • enable true and fair financial statements to be prepared and audited.

The Treaty Authority must also keep written records that correctly record its operations and be able to produce these records if required by law.

The Treaty Authority must retain its records for at least seven years, or as otherwise required by the Australian Charities and Not-for-profits Commission Act 2012 (Cth) or any other laws that may apply, for example, taxation law.

The Members must take reasonable steps to ensure that the Treaty Authority’s records are kept safe.

23 Treaty Authority Bill

The State commits to working closely with the Aboriginal Representative Body and keeping the Aboriginal Representative Body informed of all developments during the debate of the Treaty Authority and Other Treaty Elements Bill 2022 (Vic) in Parliament.

24 Not-for-profit

The assets and income of the Treaty Authority will be applied solely to further its objects and no portion shall be distributed directly or indirectly to Members, except as genuine compensation for services rendered or expenses incurred on behalf of the Treaty Authority.

25 Winding up

In the event of the Treaty Authority being wound up, all assets that remain after such winding up and satisfaction of all debts and liabilities:

must not be distributed to Members or former Members of the Treaty Authority and

subject to the requirements of Australian laws and any Australian court order, shall be distributed to another organisation or organisations with similar purposes to the Treaty Authority which is or are charitable at law and which is or are not carried on for the profit or personal gain of Members.

26 No partnership

Nothing in this Agreement creates a relationship that is a partnership. The Members will not be in receipt of income jointly.

27 Amendments

Except as otherwise provided by law, this Agreement may only be amended by agreement of the Parties in writing.

28 Review

The Parties will review the effectiveness of the Treaty Authority within three years of its commencement. The review will take into account the views of the Treaty Authority, including in relation to:

  • adequate resourcing and
  • the need for additional functions, including but not limited to the implementation of Treaties.

Following the initial review, the Parties will review the Treaty Authority every five years to assess the matters set out in a and b above. The Parties will take into account the views of the Treaty Authority in conducting any subsequent review.

29 Duration of the Treaty Authority

The Treaty Authority will continue until dissolved by agreement of the Parties.

The Parties may only dissolve the Treaty Authority if, after consulting with the Elders’ Voice, they are satisfied that the Treaty Authority:

  • has no further functions or duties to perform under this Agreement, the Framework or any Treaties made under the Framework or
  • is unable to perform its functions or duties under this Agreement, the Framework or any Treaties made under the Framework.