Aboriginal and Torres Strait Islander Land Account Financial statements for the year ended 30 June 2011
The Aboriginal and Torres Strait Islander Land Account (ATSILA) operates under the Aboriginal and Torres Strait Islander Act 2005 (ATSI Act) and is a special account for the purposes of the Financial Management and Accountability Act 1997 (FMA Act). ATSILA is established for the purpose of making payments to the Indigenous Land Corporation (ILC).
ATSILA is administered by the Department in accordance with the requirements of ATSI Act and the FMA Act.
ATSILA is a self-sustaining capital fund. It provides a secure and ongoing source of funds to the ILC who assists Aboriginal and Torres Strait Islander people to acquire and manage Indigenous-held land so as to provide economic, environmental, social and cultural benefits.