Aboriginal and Torres Strait Islander Land and Sea Future Fund

The Aboriginal and Torres Strait Islander Land and Sea Future Fund is fund established in Australia by the Abbott government.^[1] It is managed by the Future Fund, and its purpose is to make payments to the Indigenous Land and Sea Corporation.^[2]

History

The Indigenous Land Corporation was established under the Land Fund and Indigenous Land Corporation (ATSIC Amendment) Act 1995,^[3][4] following the passing of the Native Title Act 1993.^[5][6] Alongside this, the Land Fund was established to pay for the acquisition of properties and businesses in order to benefit future generations of Indigenous Australians, who were not covered by Mabo v Queensland (No 2).^[7] The Land Fund was later renamed the Land Account.

Establishment

On 1 February 2019 the name of the Indigenous Land Corporation was changed to Indigenous Land and Sea Corporation and the Land Account was renamed to the Aboriginal and Torres Strait Islander Land and Sea Future Fund.^[1][8] In that year it created the Agribusiness Investment Program, to provide funding for Indigenous agricultural enterprises.^[1]

Its remit was expanded to include land and sea and was brought under the purview of the Future Fund.^[7]

Suggested reform

Noel Pearson has suggested that money held in trusts for native title groups could be transferred to the fund.^[9]