Exemptions
There are certain parts of the CATSI Act that the Registrar can grant exemptions for. An exemption means that a corporation does not have to comply with that part of the Act.
Exemptions may:
- be conditional
- be for a short time
- have no end date
- cover a group of corporations.
Requesting an exemption is different to replaceable rules in a corporation’s rule book.
What corporations can request exemptions for
Corporations can ask the Registrar to be exempt from requirements to do with:
- members and observers
- meetings
- officers (directors and related parties)
- record keeping
- reporting.
Requesting an exemption
A corporation must request an exemption in writing and give reasons.
