NTAIC Communique – June 2022 Board meeting

Second meeting of the interim Board

The NT Aboriginal Investment Corporation (NTAIC) made key decisions to progress the set-up of the newCorporation and bring the Aboriginals Benefit Account (ABA) back to the NT at its second meeting on28 and 29 June on Larrakia country in Darwin.

The NTAIC shifts control of decisions over a significant amount of ABA funds into Aboriginal hands. The Aboriginal-controlled Board share a vision of self-determination, aiming to build long term prosperity by investing ABA funding for the future and making payments to support community development and Aboriginal businesses. Investing ABA funding boldly and wisely will support Aboriginal culture and community for future generations.

The NTAIC will replace the current Government managed ABA beneficial payment program with its own newly designed process. The interim Board agreed that the new payments program needs to be easy for people to use and get money into community quickly.

One of the key jobs for the interim Board is to make key appointments to set up the organisation. Over the course of the two days, the Aboriginal controlled interim Board considered a strong list of candidates for key roles including:

• two independent Board members to join the interim Board,
• independent members for the NTAIC’s investment committee, and
• the acting Chief Executive Officer.

The interim Board will conduct interviews for the positions over the coming months.

The interim Board also decided to run a competition to design an artwork for the NTAIC logo, representing Aboriginal culture from across the NT and the NTAIC’s vision for strong Aboriginal communities and culture for generations to come. Details will be advertised shortly.

The interim Board will meet again on 29 July 2022.