Details of the Agreement:
Commencement and Termination:
The ILUA is binding from the date on which the parties have all signed the agreement. It has effect as an ILUA, and in relation to the agreed acts, from its registration on 19 December 2019. The ILUA will terminate 95 years after it commenced operating, given that the parties have met 5 years prior to this date to discuss extending the agreement. Alternatively, the parties may agree in writing to terminate the agreement at an earlier date.
Native Title Provisions:
Right to negotiate:
The parties agree that the right to negotiate provisions of the Native Title Act 1993 (Cth) do not apply to the acts agreed to by this ILUA.
The parties agree that the non-extinguishment principle applies, meaning that any of the activities authorised under this ILUA which may be inconsistent with native title rights and interests do not extinguish those rights and interests.
Future act provisions:
The parties agree to the doing of certain acts, including the following:
- the grant, variation, extension, renewal or transfer of the project rights, those being any rights or interests necessary or incidental to the undertaking of Project Sea Dragon pursuant to the legislation listed (see original Extract for further information); and
- the undertaking of Project Sea Dragon, that being the development of fully integrated land-based aquaculture marine protein production businesses in the ILUA area. This may include the grow-out of land based ponds, Keep River Plains road upgrade, any associated infrastructure work and all primary production activites.
These agreed rights and undertakings must not exceed the term of the ILUA.
Native Title in the Agreement Area:
The ILUA area is within the area of the native title determination Simon v Northern Territory of Australia  FCA 575. (FCA file no.: NTD9/2010, NNTT file no.: DCD2011/007).