At a general meeting held in Alice Springs last night, members of The Gap Youth Centre Aboriginal Corporation (GYC) voted to adopt a new rule book which complies with the Corporations (Aboriginal and Torres Strait Islander) Act 2006.
At the annual general meeting (AGM) which followed, members elected nine new directors to take control of the corporation when the special administration ends.
GYC decided to stop trading in January 2008, after it was found to be insolvent. This led to the appointment of joint special administrators by the Office of the Registrar of Indigenous Corporations (ORIC) in February 2008.
GYC provided a range of services to disadvantaged Aboriginal youth in Alice Springs. This included care for after school and school holidays, a children’s crèche, internet access and sports facilities. It also ran Reconnect—an early intervention program that works with young people who are at risk of becoming homeless.
Since their appointment, the special administrators have worked with an advisory committee to look at available programs and funding, and operational changes to the corporation to ensure its future is secure. They expect all of the corporation’s debts can be paid out by the end of the month.
‘I am delighted that the financial position of Gap Youth Centre has been turned around. It has been an iconic part of Alice Springs for many years.’ Mr Anthony Beven, the Registrar of Indigenous Corporations, said.
The special administrators intend to restart operations from 1 October 2008, with a small number of programs initially. They will work with the new directors until the special administration ends to secure funding for additional programs.
The corporation is also looking for people with specialist skills, such as business, accounting or management, to be independent directors.
‘I would like to commend the special administrators for the consultative approach they have adopted. ORIC encourages working together to build capacity in corporate and community governance.’ Mr Beven said.
Further information
For more information about the meetings or if you would like to be an independent director of GYC please contact the special administrator Gerry Mier on 0419 682 032 or 07 4046 8888.
Contact:
Lisa Donnelly
02 6219 7611
19 September 2008
ORIC MR0809–08