The Registrar of Indigenous Corporations, Anthony Beven, today announced that he has placed the Lagulalya Aboriginal Corporation under special administration.
The Lagulalya Aboriginal Corporation was incorporated under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) on 3 November 2010. It owns and operates the community store in the remote Aboriginal community of Milyakburra. It also operates a business centre for the local community.
Milyakburra is located on Bickerton Island in eastern Arnhem Land in the Northern Territory and has a population of approximately 170 people.
An examination of the corporation’s books by the Registrar in November 2013 revealed some problems with the corporation’s corporate governance. On 6 December 2013 the Registrar issued a notice to the corporation asking the directors to show cause why the corporation should not be placed under special administration.
‘After the directors reviewed the show cause notice they wrote to me supporting the appointment of a special administrator,’ said Mr Beven. ‘The special administrator will now work with the members of the corporation and the local land council to improve the operation of the store and the governance of the corporation.’
Mr Austin Taylor and Mr Stuart Reid from Meertens Chartered Accountants in Adelaide and Darwin have been appointed as the joint and several special administrators until 31 May 2014.
Background
Special administration is a special measure under the CATSI Act. For more information see the fact sheet Special administrations: what members and directors should know available on the ORIC website: www.oric.gov.au.
Media contact
Patricia Gibson
(02) 6146 4743
ORIC MR1314-19
16 December 2013
Special administrators
Austin Taylor (08) 8418 8900 or 0417 806 532
Stuart Reid (08) 8941 3122 or 0416 248 104