The Registrar of Indigenous Corporations, Anthony Beven, today announced that control of the Walhallow Murri Enterprises Aboriginal Corporation will be handed back to the members of the corporation on Sunday, 28 October 2012.
The corporation holds the leasehold title over a 519.6-hectare (1200 acres) property known as ‘Coburn’ which is located about 40 kilometres south-west of Tamworth. The property was acquired by the Indigenous Land Corporation (ILC) in June 1996 and the title was transferred to the corporation in 1999.
It was placed under special administration on 27 April 2012 after an examination of the corporation’s books by the Registrar raised serious concerns about the standard of corporate governance at the corporation and its financial management.
‘The special administrator, Peter Saunders, has done a lot of work to put the corporation’s affairs back in good order,’ Mr Beven said.
Some of the main achievements include:
- the corporation’s affairs have been stabilised
- an in-principle agreement has been reached with Walhallow Aboriginal Corporation to end a prior sub-lease of the property
- several new leases on the property have been agreed that will generate cash flow for the corporation
- funds relating to the sale of water rights have been recovered (approximately $12,000)
- the financial accounts have been completed and lodged with the Registrar
- tax matters have been resolved and refunds secured
- a business plan has been put in place and budgets developed for the next year
- a stronger rule book has been developed and approved.
‘The special administrator has worked closely with the ILC and the members to secure the future of the corporation,’ Mr Beven said.
The new directors are Mr Jason Allan, Mrs Alison Sampson, Mr Raymond Saunders, Mrs Mary Slater, Mrs Susan Smith, Mr Charles Lynch (independent director) and Mr Michael McHugh (independent director).
Mr Beven said the corporation is now in a strong position and has funds for future projects that will benefit all residents of Walhallow.
The Registrar will continue to work with the corporation and its new directors.
(02) 6146 4743
26 October 2012