Prescribed Body Corporate (PBC) (Native Title Act) (Australia)
SummaryA Prescribed Body Corporate (PBC) is the corporation required to be established under the Native Title Act 1993 (Cth) by a group of native title holders to represent them and manage their native title rights and interests which have been determined to exist. Once the corporation is approved by the court, it is entered onto the National Native Title Register as the 'Registered native title body corporate'. For profiles of PBCs in Australia see AIATSIS- Native Title Research Unit: PBC Profiles.
Extended DefinitionA PBC fulfils certain functions set out under the Act. 'Once a PBC is registered it is used as the legal body to conduct business between the native title holders and other people with an interest in the area such as pastoralists, governments or developers.' (NNTT,What is a Prescribed Body Corporate?).
There are two types of PBCs; the appropriate type to be established for a group of native title holders is decided at the time of making the native title determination. The first type of PBC holds native title in trust and acts as a trustee for the native title holders in relation to native title matters in the area. The second type of PBC can be established where native title is held directly by the common law native title holders and the PBC acts as an agent of these common law holders, operating upon their instructions.