The Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) is the law that establishes the role of the Registrar of Indigenous Corporations and allows Aboriginal and Torres Strait Islander groups to form corporations.
It began on 1 July 2007.
The CATSI Act delivers modern corporate governance standards but still provides measures to suit the needs of Aboriginal and Torres Strait Islander people. Examples of this are the requirements for the majority of directors and the majority of members to be Aboriginal and Torres Strait Islander people. This means corporations will always be owned and controlled by Aboriginal and Torres Strait Islander people.
Registration under the CATSI Act is mostly voluntary. However, some corporations – for example, ‘prescribed bodies corporate’ set up under the Native Title Act 1993 – are required to register under the CATSI Act.
Current determinations that amend CATSI legislation
There is currently one determination that affects the legislation. This determination provides an exemption to corporations who may be using an auditor or audit firm whose registration is not certain.
CATSI Regulations
The CATSI Regulations contain a range of machinery provisions necessary for the effective operation of the CATSI Act, as well as provisions dealing with certain substantive matters not dealt with in the CATSI Act. For example, setting out the detail of corporation reports.
Obtaining copies of the CATSI Act
We do not publish copies of the CATSI Act, amendments or regulations. You can download copies from the Australian Government's Federal Register of Legislation or buy print copies.
Corporations Act 2001
Some parts of the Corporations Act apply to Aboriginal and Torres Strait Islander corporations because the CATSI Act says they should apply or because of the broad definition of ‘corporation’ in section 57A of the Corporations Act.
The Australian Securities and Investments Commission (ASIC) may regulate corporations where the Corporations Act applies. You can find out more about the Corporations Act by going to the ASIC website or the Corporations Act 2001.