A review of the New South Wales Associations Incorporation Act 1984 focused on whether that Act could be improved to better respond to the needs of organisations incorporated under the legislation. ORIC (ORAC, as it was known at the time) presented comments on how to respond to the needs of corporations that are not-for-profit, largely volunteer-managed and either publicly funded or not funded at all.
In summary, despite the lack of resources of not-for-profit corporations, their standards of corporate governance are in principle the same as for profit corporations. There is a public interest in ensuring that this essential sector of the Australian corporate environment thrives. Not-for-profit corporations require additional support, especially at critical stages of their development, such as at their establishment or when they are growing.