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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If you know what they are, it puts you in a better position to play an active part in your corporation. Corporation may have common seal The notes at the end of this compilation the endnotes include information about amending laws and the amendment history of provisions of the compiled law.
Complaints involving corporations Published: For more information about any editorial changes made in this compilation, see the endnotes. Corporation size and reporting A4 pages [ pdfkB]. Including which rules can be replaced by corporations in their rule book.
The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. Internal governance rules requirement It is proposed that the changes will take effect from 1 July Jonathan is a Partner and the head of our leading Resources and Energy practice in Brisbane and is also the leader of our Native Catsl practice.
Corporation size and reporting Published: For example section 1 of the Act states that a corporation must keep an up-to-date register of members. Usually when a special administrator is appointed the elected directors will step down. Body corporate registered as Aboriginal and Torres Strait Islander corporation liability of members on winding up Previous article Next article.
Body corporate registered as Aboriginal and Torres Strait Islander corporation modification by regulations If a corporation is open to membership this rule must be included in its rule book. Catzi 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.
For more information on any uncommenced amendments, see the series page on the Legislation Register for the compiled law. List of internal governance rules Related topics Read more about starting a corporation.
CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT (NO. , )
For example section 2 of the Act states that applications for membership of a corporation must be in writing. Endnote 1—About the endnotes.
Examples of this are the requirements for the majority of directors and the majority of members to be Aboriginal and Torres Strait Islander people. 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: For more information on any modifications, see the series page on the Legislation Register for the compiled law.
About our courses Courses schedule —19 Training courses —18 Training courses —17 Training courses —16 Training courses — Corporations Amendment Aboriginal and Torres Strait Islander Corporations Act —amends the Corporations Act, removing any contradictions or gaps between the two pieces of legislation.
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. The information released from ORIC does not address other changes which have been proposed for prescribed body corporates PBCs which hold native title rights and interests. Resources Free templates, model rules, checklist and publications.
Meet our Native Title and Cultural Heritage team. Complaints involving corporations fact sheet [ pdfkB] Complaints involving corporations post card DL [ pdfkB]. Includes amendments up to: Prime Minister and Cabinet. This body then represents the members in accordance with its agreed constitution.
Simplifying the size classification system for corporations: Vesting of property in corporation on registration This determination provides an exemption to corporations who may be using an auditor or audit firm whose registration is not certain.
Aboriginal and Torres Strait Islander corporations Skip to main content Skip to section navigation. Duties of directors and other officers The Corporations Aboriginal and Torres Strait Islander Act sets out the duties required of directors and other officers. It includes guidance on:. Members’ rights As a member of a corporation you have certain rights. General report Financial report Audit report. cagsi
About the CATSI Act
InORIC held a technical review into the CATSI Act to look at how to strengthen and improve it to benefit Aboriginal and Torres Strait Islander corporations by reducing red tape, especially for small corporations, and increasing transparency for members. Registers of members and former members Published: Medium and large size corporations will be required to report details regarding management personnel, including salaries and work history. Registrar may seek further information Lodge online [ pdfkB].
Age of members requirement Uncommenced amendments The effect of uncommenced amendments is not shown in the text of the compiled law. Editorial changes For more information about any editorial changes made in this compilation, see the endnotes.
Record keeping, reporting requirements and books The CATSI Act has actsi with the Corporations Act Cthwhich governs the operation of companies in Australia, but has been created with the particular needs of Indigneous corporations in mind.