Corporations should report changes to officer details to avoid penalties

Mr Anthony Amatto, an undischarged bankrupt, resigned earlier this year from being a director of Dubbo Koorie Housing Aboriginal Corporation.

This follows an investigation by the Registrar of Indigenous Corporations, Mr Anthony Beven, into people who continue to manage Indigenous corporations after they have been disqualified.

The Registrar’s office has also received confirmation that Wiran Aboriginal Corporation and North West Nations Clans Aboriginal Corporation have updated their director and contact officer details to remove a disqualified person.

Under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) corporations must inform the Registrar’s office within 28 days when there has been of a change in director, secretary or contact person, or their contact details.

‘It is important that corporations notify me of any changes to officers or their details, particularly when a person has been disqualified from managing a corporation’, Mr Beven said.

‘The CATSI Act has penalties for corporations that don’t update their details. There is a form for this on the ORIC website. It is important that the public register on Aboriginal and Torres Strait Islander corporations is reliable and accurate’

Background

Automatic disqualification

People cannot be directors or ‘participate in the management’ of a corporation if they have been convicted of certain offences or are bankrupt.

For more information about disqualification see ORIC’s fact sheet—Disqualification from managing corporations under the CATSI Act.xxx

Providing information about directors, secretaries, contact persons

If a corporation fails to notify the Registrar of changes to officers and their contact details within 28 days of the change it may result in a fine of up to $1100 for the corporation and $1100 for secretaries of large corporations.

Contact:

Lisa Donnelly on (02) 6219 7611,
22 December 2009
ORIC MR0910-18