Gala to be held Oct. 29.

Midnight Oil will be inducted into the Australian Recording Industry Assn.'s Hall of Fame during the ARIA Awards ceremony in Sydney on Oct. 29.

ARIA awards committee chairman Ed St. John described the veteran act as "one of the greatest rock and roll bands this country has ever produced."

The band, which is best known for politically-charged songs such as "Beds Are Burning," "Power and the Passion" and "Blue Sky Mine," sold a combined 12 million albums worldwide through Sony Music (now Sony BMG).

After recording 17 albums, the act broke up December 2002 when singer Peter Garrett left to enter politics. He is currently a member of parliament for the federal Labour Party in the New South Wales seat of Kingsford-Smith.

The band reunited to headline February 2005's Wave Aid, a star-studded benefit held in Sydney to raise money for victims of the Indian Ocean tsunami in December 2004.

Midnight Oil "were incredibly successful all over the world, but much more importantly, they made music that mattered," added St. John, who is also president and CEO of Warner Music Australia. "They covered subjects that had rarely been addressed in a rock song before: land rights, the environment, social justice, war, human rights and Australian history. The sound of their music, created by five supremely talented singers and musicians, evoked the very essence of Australia. There has never been a band like this, and I doubt there will ever be one like them again."

On Oct. 28, Sony BMG will release a best-of set called "Flat Chat". Denis Handlin, chairman and CEO of Sony BMG Australasia, commented, "I am very proud of their success in Australia and internationally and that Midnight Oil have been with Sony BMG for 25 years. Their music continues to be discovered by new music fans every day. They are true icons of our music scene."

On Aug. 16, ARIA inducted the Divinyls, Icehouse, Daddy Cool, Lobby Loyde, Rose Tattoo and Helen Reddy in a stand-alone event in Melbourne.