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Larrakia Development Corporation Distribution Policy
Definition of Larrakia
A Larrakia person is defined as being a member (or spouse) of a family named by Justice Gray as being a member of the Larrakia Group. Proof of identification must be supplied, i.e. Drivers License, etc.
Category / Limits
The Larrakia Development Corporation has resolved to allocate as from October 2006 from its investment income towards to the following categories
AMENDMENT 24 April 2010
No distributions will be payable from the Distribution Fund other than for requests on Larrakia Land Exception:
Scholarships - subject to Board approval
What is a Funeral Benefit?
The Larrakia Development Corporation Funeral Benefit is a one-off payment towards the funeral costs of Larrakia.
Application Form
The LDC application Form must be completed and returned to the LDC Office before any funds can be processed.
Amount
Max $7,700 per funeral.
Conditions
The Larrakia family must supply proof of death and all payments will be made immediately to the funeral home.
Delegation / payment
Larrakia Development Corporation CEO
What is a Scholarship?
The Larrakia Development Corporation Scholarships are offered to Larrakia based on receipt of an application for any Larrakia Development Corporation approved tertiary or trade qualification.
Application Form
The LDC application Form must be completed and returned to the LDC Office before any funds can be processed.
Amount
Max $5,000 pa per student per year (i.e. 4 year course = $20,000)
Conditions
To assist Larrakia undertaking an LDC Board approved tertiary qualifications i.e. Medicine / Teaching or trades qualification. Payment made annually in arrears upon confirmation of the student successfully passing that years work.
Delegation / payment
Larrakia Development Corporation Board
What is a Utility Expense?
The Larrakia Development Corporation will pay direct to a provider of utilities upon receipt of an original account the amounts owing up to $250 per quarter in total for any Larrakia person/ couple over the age of 60 years.
Application Form
The LDC application Form must be completed and returned to the LDC Office before any funds can be processed.
Amount
Max $1,000 p.a.
Conditions
Requests can be received by any Larrakia person or couple who must be married or in a legal defacto relationship (either the spouse of a Larrakia person ) over the age of 60 years presenting either their Rates/Phone /Power bill to the LDC will have it paid to a maximum of $250 per Quarter ($1,000 pa)
Delegation / payment
Larrakia Development Corporation CEO
What are the Larrakia First Home Buyer’s – Deposit Fund?
It is a fund to benefit and assist Larrakia to purchase their first home, a once only $2,500 per individual Larrakia family to assist with or as a deposit in the purchase of their first home.
Application Form
The LDC must receive a written request to the LDC Office before settlement.
Amount
Max $2,500.00p.a.
Conditions
To assist Larrakia to purchase their First Home, on Larrakia Land, the deposit will be paid at settlement and be payable to the vendor of the property being purchased.
Delegation / payment
Larrakia Development Corporation CEO
What is the Small Business fund?
The Larrakia Development Corporation funds to be used for mentoring, costing of products, system set up, understanding cash flow's, profit etc - i.e. to assist new businesses manage their business to succeed.
Application Form
The LDC application Form must be completed and returned to the LDC Office before any funds can be processed.
Amount
Max $2,000 per business enterprise
Conditions
To assist Larrakia in developing new business ventures subject to a dollar for dollar basis.
The funds should be used to assist in the establishment of the new business and manage to succeed.
Confirmation of the Larrakia person’s $2,000 contribution (outlay) and a viable business plan being received prior to any Larrakia Development Corporation funds being released
While LDC wishes to distribute in a manner that will provide maximum benefit for Larrakia under the Larrakia Development Trust and is also committed to improving long term employment and business opportunities for Larrakia..
The proven statistic that 80% fail in first 5 years is still true.
Delegation – payment
Larrakia Development Corporation Board
What is the fund?
Amended 24 April 2010
Larrakia Development Corporation has recognised that families of deceased Larrakia should be able to submit a story about their family Elder’s and that upon receipt of the story the Larrakia Development Corporation will pay for the erection of a headstone on the deceased Elder’s grave site.
Amount
The payment of no more than $2,500 payable direct to the provider of the headstone and its erection on the deceased Elder’s grave site - only applies to cemetery plots on Larrakia land.
Conditions
- Now no age limit
- To be erected in a cemetery located on Larrakia Land
- The LDC Advisory Committee Family representative to confirm broader family consent to the erection of a headstone.
- The Larrakia Development Corporation to receive written consent to be able to use the story as part of the history of the Larrakia.
Delegation – payment
All requests to be approved by the CEO and at least 1 Larrakia Board member.
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