The CATSI Act has similarities with the Corporations Act (Cth), which governs the operation of companies in Australia, but has been. Items 45 – 62 Corporations (Aboriginal and Torres Strait Islander) Act Authoritative Version. – CC; In force – Latest Version; View Series. Key issues Technical Review of CATSI Act Brief summary of proposed changes published by ORIC – this does not address any specific.
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Home Acts In force Details: The Registrar may intervene in the operations of a PBC in order to: Corporate governance Who does what Meetings Resolutions and voting Changing rules Financial records Lodging reports Making a complaint Resolving disputes Closing a corporation Regulatory activities Resources Charity registration.
Registrar may grant application if application is incomplete etc. General report Financial report Audit report Directors’ report Adapted from CATSI corporation size and reporting fact sheet Special Administration If a PBC is not compliant with the CATSI Act or is experiencing financial or governance issues that may impact upon its capacity to meet its obligations to its members and native title holders, under the special administration provisions in the CATSI Act the Registrar may appoint a special administrator to safeguard the caysi for a specified period of time.
Corporation may have common seal Call ORIC on Hold an initial general meeting; Agree on proposed ccatsi rule book ; Conduct an election for first board of directors and office bearers; and Appoint a contact person or company secretary. Editorial changes For more information about any editorial changes made in this compilation, see the endnotes.
Corporations (Aboriginal and Torres Strait Islander) Act
Minimum number of members requirement Accordingly, this compilation does not show the text of the compiled law as modified. List of internal governance rules Internal governance rules requirement This determination provides an exemption to corporations who may be using an auditor or audit firm whose registration is not certain. The level of reporting required ; What records must be kept by PBCs ; Duties of directors and managers ; Member rights ; and the role of the Registrar and special administration.
Registers of members and former members Published: For example section 2 of the Act states that applications for membership of a corporation must be in writing. Applying Corporations Act arrangements and reconstructions provisions to Aboriginal and Torres Strait Islander corporations Maintain public confidence in corporations; Improve the governance of corporations; Prevent or minimise the risk of fraud, dishonesty and misconduct; Take action when there are serious breaches of the CATSI Act ; Protect innocent parties; Deter or punish those who cause or might cause harm to others; and Educate those involved with corporations about unacceptable behaviour see ORIC’s The Registrar’s powers to intervene Teasons a PBC may be placed under special administration include: Resources Free templates, model rules, checklist and publications.
In the s and s, various reviews advised the Australian Government of the need for legislation to make it easier for Indigenous communities and organisations to form corporations.
This means corporations will always be owned and controlled by Aboriginal and Torres Strait Islander people.
Run a corporation Understand what the corporation is there for, what it is able to do and how it is to be managed. Registrar may seek further information For example section 1 of the Act states that a corporation must keep an up-to-date register of members. For more information about any editorial changes made in this compilation, see the endnotes. Fact sheets A corporation’s rule book: Dispute resolution Poorly handled disputes can significantly affect a corporation, its members and everyday business.
CATSI fact sheets
Start a corporation Find out about registration options and what to do to register a corporation. A corporation’s rule book A4 single pages [ pdfkB] A corporation’s rule book A3 spreads [ pdfkB].
Meeting for members A4 single page [ pdfkB].
The special administrator has the powers of an officer of the corporation. This is a replaceable rule which a corporation is permitted to change. The Regulations repealed the Corporations Aboriginal and Torres Strait Islander Regulations on 1 Octoberwhich were due to sunset on the same day. Corporations will also be allowed to make some low-value transactions to related third parties.
If a PBC is not compliant with the CATSI Act or is experiencing financial or governance issues that may impact upon its capacity to meet its obligations to its members and native title holders, under the special administration provisions in the CATSI Act the Registrar may appoint a special administrator to safeguard the corporation for a specified period of time. It is proposed that members will be able to provide alternative member contact details, and allow directors to decide to redact member personal information to keep people safe.
Poorly handled disputes can significantly affect a corporation, its members and everyday business. Processes for closing corporations: Members’ rights As a member of a corporation you have certain rights. Call ORIC on Application, saving and transitional provisions for provisions and amendments If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
The CATSI Act and the Corporations Act : some difference. – Version details – Trove
Corporation comes into existence on registration General report Financial report Audit report Directors’ report. Contact persons and secretaries [ pdfkB].
There is currently one determination that affects the legislation. Aboriginal and Torres Strait Islander corporations The Registrar may refuse to register rule books that are not fit for purpose. General report Financial report Audit report. This table will help you learn more about which laws might suit your organisation best. Meet our Native Title and Cultural Catsk team.