Native Title Part 2 Native title functions of prescribed bodies corporate and holding of native title in trust Division 6 Section 60 hold native title rights and interests in trust for other common law holders, so long as all of the common law holders mentioned consent to the determination. (2) If a prescribed body corporate is an agent prescribed body corporate for some common law holders, the Federal Court may determine under paragraph 57(2)(b) that the prescribed body corporate is to be the agent prescribed body corporate for other common law holders, so long all of the common law holders mentioned consent to the determination. (3) For the purposes of subsections (1) and (2), the regulations may prescribe the ways in which the consent of the common law holders may be obtained, and if the regulations do so, the common law holders must obtain the consent in that way. 60 Replacement of agent prescribed bodies corporate The regulations may make provision for: (a) the replacement of an agent prescribed body corporate (the original PBC) with another prescribed body corporate (the replacement PBC) to perform the functions mentioned in subsection 57(3) where: (i) the common law holders wish the replacement to occur; or (ii) a liquidator is appointed for the original PBC; and (b) the determination by the Federal Court of the replacement PBC; and (c) any matter in relation to the transition from the original PBC to the replacement PBC, including the determination of that matter by the Federal Court; and (d) any other matters in relation to the replacement of the original PBC with the replacement PBC. Compilation No. 47 Native Title Act 1993 205 Compilation date: 25/09/2021 Registered: 22/10/2021 Authorised Version C2021C00450 registered 22/10/2021