All Larrakia Traditional Owners are invited to participate in the business of the Larrakia Development Corporation through the Larrakia Unit Trust (“LUT”). The LUT offers Larrakia the opportunity to join and receive a Unit, which will allow them a share of Trust Distributions through the LUT.
Who is the Trustee?
The Larrakia Development Corporation Pty Ltd is Trustee of the Larrakia Unit Trust.
Who may hold a Unit?
Only Larrakia Traditional Owners over the age of 18 years may apply for and hold a Unit. Those persons may apply to become a Unit Holder at any time. All applications require approval by the Trustee, at its discretion and are subject to receipt of an application form and supporting documentation. If the required supporting documentation is not received, your application will not be processed.
How much does it cost?
There is no cost to become a Unit Holder – all you need to do is fill in the application form. Once approved, you will be sent a confirmation letter and an official Unit certificate. Your name will also be entered onto the register of Unit Holders maintained by the Trustee.
What do I have to do?
To start and if required, we ask for your permission to take your photograph and share your story on our website and other marketing materials. We may also ask for your participation in our marketing campaigns from time to time. This will generally take place as local gatherings at which we may take more photographs and/or video footage.
What does a Unit entitle me to?
A share of the Trust Distributions through the LUT after Trustee administrative costs are deducted. Unit Holders collectively share a percentage of profits made by the work of the Larrakia Development Corporation that are set aside for distribution to Unit Holders.
Can I vote?
No. The LUT does not permit Unit Holders the right to vote.
Is my Unit transferable?
No. Your Unit is not transferable. The only way a Unit Holder ceases to hold a Unit is through death, bankruptcy, or voluntary surrender of the Unit back to the Trust. You cannot give your Unit to anyone else, loan, mortgage or borrow against it.
Apply online on the below application form.