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The chairman of a powerful Indigenous organisation that controls hundreds of millions of dollars in land assets â including Ayers Rock Resort - is refusing to resign, despite federal Minister Ken Wyattâs loss of confidence in him and two board motions of no confidence in his leadership.
Eddie Fry, an Indigenous businessman who once ran as a Country Liberal Party candidate in the Northern Territory and has chaired the Indigenous Land and Sea Corporation (ILSC) since 2015, says he has no intention of quitting.
Eddie Fry is an Indigenous businessman who once ran as a Country Liberal Party candidate in the Northern Territory and has chaired the Indigenous Land and Sea Corporation (ILSC) since 2015.
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The chairman of a powerful Indigenous organisation that controls hundreds of millions of dollars in land assets â including Ayers Rock Resort - is refusing to resign, despite federal Minister Ken Wyattâs loss of confidence in him and two board motions of no confidence in his leadership.
Eddie Fry, an Indigenous businessman who once ran as a Country Liberal Party candidate in the Northern Territory and has chaired the Indigenous Land and Sea Corporation (ILSC) since 2015, says he has no intention of quitting.
Eddie Fry is an Indigenous businessman who once ran as a Country Liberal Party candidate in the Northern Territory and has chaired the Indigenous Land and Sea Corporation (ILSC) since 2015.
At the core of the opposition to the Government’s approach is the suggestion that the draft legislation and the insertion of the word ‘financial’ into best interests effectively reverses legal burden of proof for superannuation fund trustees.
Law Council of Australia representative, Natalie Cambrell said the LCA actually rejected the view that the best interests duty was in need of clearer articulation, particularly by legislation.
“Both the proposal to add the word ‘financial’ to the existing best interests covenant and the proposal to reverse the evidential burden of proof are not warranted,” she said.
Ai Group chief policy officer, Peter Burn said the approach taken in the legislation to protect member interests was poorly conceived and poorly designed.
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