Enabling Legislation

IBA’s enabling legislation is the Aboriginal and Torres Strait Islander Act 2005 (ATSI Act), which details the purpose and functions of IBA.

IBA is a statutory corporation established for a public purpose and to hold money in its own account. It was created to assist and enhance the economic advancement of Aboriginal and Torres Strait Islander peoples, mainly by facilitating Indigenous equity in sound commercial ventures. IBA’s enabling legislation requires it to accumulate and use a substantial capital asset, to engage in commercial activities and to promote and encourage Aboriginal and Torres Strait Islander self-management and economic self-sufficiency.

Board of Directors at IBA’s NAIDOC Week breakast event in Brisbane, (L-R): Judy Hardy, Ian Trust, Peter Thomas, Bob Blair (back row) Dawn Casey, Leah Armstrong, Priscilla Collins and Jenny Boddington (front row)