Resource Assessment Commission Act 1989.

This Act provides for the establishment of the Resources Assessment Commission and defines its duties, powers and various matters of internal organization. Schedule 1 sets out the policy principles for resolving competing claims for the use of resources.
The Resource Assessment Commission (RAC) has the power to hold enquiries and make reports in respect of resource matters. The RAC consists of a Chairperson and any Commissioners appointed for the purposes of inquiries. In the performance of its functions in relation to a resource matter, the RAC shall: (i) identify the various uses that could be made out of the resource; (ii) assess the losses and benefits involved in the use of those resources;(iii) give consideration to the environmental, cultural, social, industrial and economic values of the resource. The RAC shall be guided by the policy principles set out in Schedule 1 for resolving competing claims for the use of resources, i.e.: (i) integrated approach to conservation and development; (ii) sustainable use of the nations resources and equitable distribution of the return therefrom; (iii) Commonwealth decisions, policies and management regimes may provide for additional uses that are compatible with the primary purpose values for the area. (60 sections completed by 2 Schedules)