The Registrar of Indigenous Corporations, Mr Anthony Beven, has today placed the Aboriginal and Torres Strait Islanders Corporation for Welfare Services under special administration.
The corporation provides affordable housing for Aboriginal and Torres Strait Islander people in and around Mount Isa in north-west Queensland. It owns and manages 32 residential properties.
The Registrar has appointed Mr Peter McQuoid from the Queensland-based accounting firm of PDM Consulting as the special administrator.
A number of governance issues were brought to light after an examination of the corporation’s books was completed by the Registrar in June 2012. The examiner’s report also revealed that the corporation’s current financial position could not be established because financial records had not been kept since February 2011.
‘This corporation has been operating since 1985. It has a long history of providing essential housing services to the Mount Isa community,’ Mr Beven said. ‘It is vital to get the corporation back on track so that it can continue this service to the members and the wider community.’
The special administrator has been appointed for six months.
Special administration is a special measure under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 which helps corporations to fix their own problems. The aim of the process is to restore a corporation to good health and once this is achieved to return control to members as soon as possible. For more information please see ORIC’s fact sheet Special administrations: what members and directors should know available at www.oric.gov.au.
(02) 6146 4743
15 October 2012
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