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Once a corporation has been placed under special administration, the Registrar will appoint a special administrator to resolve financial and organisational problems. The special administrator is a qualified, independent person who takes control and runs a corporation.
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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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All registered native title bodies corporate (RNTBCs) must have particular rules about membership and disputes. ObjectivesThe objectives must say that the corporation is established to become an RNTBC and carry out the functions of an RNTBC.
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Go through tasks to complete for your corporation by the end of the year, such as annual reports, funding acquittals, taxes and annual general meetings.
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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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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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You can apply to have a 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 reregister a corporation.
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Corporations must keep a record of directors and notify ORIC of any changes to these records within 28 days of finding out.
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Directors must keep proper corporation accounts and records that correctly record and explain the corporation's transactions and explain the corporation’s financial position and performance.
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Corporations must keep a record of all membership applications given to the corporation and a register of current and former members.
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In this workshop, learn what the law requires you to do when a conflict or complaint arises.
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Corporations can ask for exemptions from requirements about meetings. This includes general meetings, directors’ meetings, minutes of meetings.
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A corporation must be registered with the Australian Charities and Not-for-profits Commission (ACNC) to be a charity. A corporation that is, or wants to become, a charity must include certain rules in its rule book.
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The Registrar has a number of regulatory and enforcement powers under the CATSI Act. What powers the Registrar exercises and when, will depend on the circumstances of each case. The Registrar's policy statements provide guidance on how and when the Registrar may use their powers.
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There are 4 rules that every corporation must have in its rule book.A corporation’s rule book must state:
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ORIC produces 6-monthly statistical reports about complaints involving corporations.The statistics provide a broad picture of corporate complaints in the sector across the entire country. We are also able to monitor these aspects of corporate performance over time.
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Registered native title bodies corporate (RNTBCs) make decisions related to native title and corporate operations. These decisions must be made correctly and by the right people.
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Learn about processes for the board to manage a conflict of interest.
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Our relationships – with our family, friends, community and organisations – create obligations or responsibilities to others. We call these ‘interests’. You may have an interest in something: