The CATSI Act establishes the Registrar of Indigenous Corporations and allows Aboriginal and Torres Strait Islander groups to form corporations. The CATSI Act delivers modern corporate governance standards—
it emphasises the importance of compliance and reporting as a mechanism to improve transparency and accountability. The CATSI Act provides a legislative mechanism to help Aboriginal and Torres Strait Islander people build strong corporations, strong people and strong communities.
Corporations registered under the CATSI Act must be owned and controlled by Aboriginal and Torres Strait Islander people: the majority of directors and members must be Aboriginal or Torres Strait Islander people (sections 29-5 and 246-5).
The Registrar is an independent statutory office holder appointed by the minister responsible for Indigenous affairs. The role of the Registrar is to administer the CATSI Act. The Office of the Registrar of Indigenous Corporations (ORIC) supports the Registrar to regulate and deliver services to corporations registered under the CATSI Act.