Summary

Amends the

to: establish the Northern Territory Aboriginal Investment Corporation to invest in Aboriginal business and commercial projects and make other payments for the benefit of Aboriginal people living in the Northern Territory (NT); amend exploration and mining processes on Aboriginal land in the NT; prescribe the nomination and approval processes and funding arrangements for approved entities that may hold a township lease; provide that land councils may enter into agreements in respect of land that is the subject of a deed of grant held in escrow; increase the amount at which land councils must seek ministerial approval to enter into a contract; remove the requirement that certain permits may only be revoked by the issuer of the permit; increase penalties for unauthorised access to Aboriginal land; remove redundant powers which allow for the delegation of land council functions to certain corporations; and make technical amendments in relation to the Aboriginals Benefit Account.