Aboriginal and Torres Strait Islander Land and Sea Future Fund Investment Mandate Direction 2019 (Cth)

Aboriginal and Torres Strait Islander Land and Sea Future Fund Investment Mandate Direction 2019

We, JOSHUA ANTHONY FRYDENBERG, Treasurer, and MATHIAS HUBERT PAUL CORMANN, Minister for Finance and the Public Service, give this Direction under section 32(1) of the Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018.

Dated 19 February 2019

JOSHUA ANTHONY FRYDENBERG MATHIAS HUBERT PAUL CORMANN Treasurer Minister for Finance and the Public Service

Contents Part 1 Preliminary 1 Name 2 Commencement 3 Authority 4 Definitions Part 2 Direction 5 Object 6 Benchmark return and acceptable level of risk 7 Board must consider impacts from its investment strategy 8 Corporate governance 9 Reporting

Part 1 Preliminary

1 Name This Direction is the Aboriginal and Torres Strait Islander Land and Sea Future Fund Investment Mandate Direction 2019.

2 Commencement This Direction commences on the 15th day after it is given to the Board. Note 1: Section 42 (disallowance) of the Legislation Act 2003 does not apply to the direction—see regulations made for the purposes of paragraph 44(2)(b) of that Act. Note 2: Part 4 of Chapter 3 (sunsetting) of the Legislation Act 2003 does not apply to the direction—see regulations made for the purposes of paragraph 54(2)(b) of that Act.

3 Authority This Direction is made under the Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018.

4 Definitions In this Direction: Act means the Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018. Board means the Future Fund Board of Guardians established by section 34 of the Future Fund Act 2006. Consumer Price Index means the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published by the Australian Bureau of Statistics. Fund means the Aboriginal and Torres Strait Islander Land and Sea Future Fund established by the Act. Future Fund Act means the Future Fund Act 2006. ILSC means the Indigenous Land and Sea Corporation established by section 191A of the Aboriginal and Torres Strait Islander Act 2005. Responsible Ministers has the same meaning as in the Act.