The Registrar of Indigenous Corporations, Anthony Beven, has reduced the reporting and meeting requirements for 76 Aboriginal corporations in central Australia.
Instead of holding an annual general meeting (AGM) and lodging a general report with the Registrar each year, the corporations will only be required to do so every third year.
The corporations are registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) and are supported by the Central Land Council. The 76 corporations undertake no activity other than to hold land or interests in land for Aboriginal people, and have few changes in their corporate information from year to year.
The corporations include nine RNTBCs (registered native title bodies corporate) and five corporations set up to become future RNTBCs. An RNTBC is a corporation nominated by traditional owners to represent them and manage their native title rights and interests after a Federal Court native title determination.
Over recent years the Registrar has worked closely with the Central Land Council to ensure that all of these corporations meet their reporting obligations and the information on the public register is accurate and reliable.
‘I have seen first-hand the governance support provided by the Central Land Council to royalty and native title corporations in central Australia,’ said Mr Beven. ‘It is a well-established model that successfully combines compliance with both mainstream and traditional governance obligations.’
Director of the Central Land Council, David Ross, said, ‘I am very pleased to be part of this excellent initiative which cuts red tape and will make life much easier for these corporations.’
The Registrar has used his powers under paragraphs 225-15(1)(a) and 353-10(1)(a) of the CATSI Act to exempt the land holding corporations supported by the Central Land Council. The exemption is effective immediately.
(02) 6146 4743
20 December 2013