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PurposeThis policy outlines how the Registrar of Aboriginal and Torres Strait Islander Corporations (Registrar) and the Office of the Registrar of Indigenous Corporations (ORIC) will meet its obligations under the Privacy Act 1988 (Privacy Act) to:
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Any corporation will have specific tasks for a range of people inside and outside the organisation, whether they are a manager, director, bookkeeper, accountant or auditor. Appropriate processes should be in place to meet compliance standards and requirements.
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Presenting the right set of documents to directors at board meetings is an important step for the right decisions to be made on behalf of a corporation.
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Who sets the budget for a corporation to operate, how is it developed and which costs are fixed or variable? Learn more about these topics and what other questions directors should be asking when looking at a budget.
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Knowing how to read the balance sheet, income statement and statement of cash flows, as well as being familiar with fundamental accounting principles and key indicators of solvency, enables you to determine the financial health of a corporation.
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It is crucial for directors to understand and monitor the financial position and performance of the corporation they govern. There are also a number of key reporting and record keeping duties directors are responsible for, among other legal obligations.
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A director ID is a 15-digit number that identifies you as a director. Apply for one as soon as you know you’re going to be a director. If you’re already a director and don’t have a director ID, apply for it as soon as possible.
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We cover the costs of course delivery and materials for our workshops. We may also be able to help with the costs of getting to and from a workshop that run for more than one day.Eligibility for travel support To be eligible to apply for travel support:
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When a corporation gives an asset or money to a person or group with a close relationship to the corporation, this is called giving a related party a financial benefit.
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You can apply to have a deregistered corporation reinstated. There are also some circumstances under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) when ORIC or the courts may re-register a corporation.
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The Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) says the Registrar can deregister a corporation in certain circumstances.
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A voluntary deregistration is where all members agree to it. In a voluntary deregistration the directors have already completed the work of winding up the affairs of the corporation.
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Learn more about deregistration under the CATSI Act, which means the corporation ceases to exist as a legal entity.
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About the qualificationThe BSB41021 Certificate IV in Aboriginal and Torres Strait Islander Governance builds skills and knowledge to be a director in an Aboriginal and Torres Strait Islander corporation.
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Learn more about special administrations under the CATSI Act, what it means for directors and members and the difference between an administration under the Corporations Act.
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Even if your corporation has stopped doing anything, it's still registered as a legal entity. This means that you must still meet the legal obligations of a corporation. To be free of these obligations, you will need to finish up any corporation business (wind up) and deregister it.
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What is winding up or liquidation?Winding up or liquidation is a process where:
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Running a corporation is not always easy. Sometimes things go wrong. These processes and procedures can help resolve problems and get the best outcomes for the corporation and the community.
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Learn more about small business restructuring, which allows certain corporations to enter into a restructuring plan with creditors while the directors to keep control of the corporation.