The object of the Act is to amend the Fisheries Management Act 1994 to enable payments to be made out of the Aboriginal Fishing Trust Fund established under that Act, to provide assistance to Aboriginal communities in relation to cultural and commercial fishing activities. The role of the Fund is to provide monetary support for cultural fishing and fishing businesses.
The assistance is proposed to be provided through grants and loans, and the acquisition of fishing assets for the use and benefit of Aboriginal communities. The Minister is to obtain and have regard to the advice or recommendations of any relevant advisory council on Aboriginal fishing before approving a program.
The intention of the Act is to make the trust fund operational so that it will be of benefit to future generations. Payments from the funds are available to Aboriginal people, including native title claimants and holders and may assist groups in participating in commercial fishing on their country.
For more information, please see the explanatory notes and second reading speeches.