Corporations seek help to amalgamate

The directors of five Carnarvon-based Aboriginal corporations in Western Australia have requested help to amalgamate their corporations.

‘Following discussions with the directors of each corporation, I have today appointed a special administrator, Mr Barry Jameson, to oversee the proposed amalgamation,’ the Registrar of Indigenous Corporations, Mr Anthony Beven, said.

‘Mergers are quite common in mainstream business but the directors wanted some outside assistance to ensure their proposal is completed correctly and in as short a period of time as possible so the new corporation can get on with delivering services.’

The five Aboriginal corporations are:

• Kuwinywardu Aboriginal Resource Unit Aboriginal Corporation (ICN 285)
• Seven Oaks Aboriginal Corporation (ICN 2005)
• Pelican Resources Aboriginal Corporation (ICN 2768)
• Yamatji Wirriya Aboriginal Corporation (ICN 3056)
• Carnarvon Aboriginal Corporation (ICN 3239).

Under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) two or more existing Aboriginal and Torres Strait Islander corporations can apply to form a new body.

‘This amalgamation has the potential to create a strong corporation, based on good governance and leadership practices, to represent the Aboriginal people living in the Carnarvon region,’ Mr Beven said.

Special administration is a unique power under the CATSI Act and is used so corporations can work through difficult circumstances. Once in a stronger position, control of the corporation is returned to members.

See the ORIC fact sheets:xxx
Special administrations: what members and directors should know
Amalgamation—information for existing corporations

17 May 2010

Contacts

Barry Jameson
TNR Financial Services Pty Ltd
PO Box 106
Lismore NSW 2480

Tel: (02) 6626 3000
Fax: (02) 6621 9035
Mobile: 0427 257 192

ORIC
Sayuri Piper Tel: (02) 6219 7658
17 May 2010 ORIC MR0910-30