Addressing compliance notices
The Registrar has a power under the CATSI Act to issue compliance notices. A compliance notice is an instruction to a corporation to fix something.
Compliance notice purpose
Compliance notices instruct a corporation to fix an issue, for example:
- not complying with the CATSI Act or its rule book
- an irregularity in the corporation's affairs
- whether circumstances exist or are likely to occur or develop that could lead to special administration.
The notice guides the corporation on how to:
- improve corporate governance standards
- improve financial management
- prevent or address any of the circumstances that could lead to special administration.
Compliance notice contents
The compliance notice covers:
- a description of why the corporation is getting a notice
- instructions on how to meet the requirements of the notice
- a timeframe for meeting the requirements.
More information
Learn more in Policy statement 26: Compliance notices.