This month the Registrar of Indigenous Corporations, Anthony Beven, has used his powers under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) to deregister 448 Aboriginal and Torres Strait Islander corporations. These corporations no longer exist.
‘Most of these corporations have been deregistered because they failed to lodge reports for the past five years,’ Mr Beven said.
‘Reporting is important as it ensures that the information available to the public and members of a corporation is up to date and accurate.’
All Aboriginal and Torres Strait Islander corporations registered under the CATSI Act must lodge reports with the Registrar every year. Reports for 2008–09 are now due.
Under the CATSI Act a corporation may be deregistered or face penalties after 31 December 2009 for each report not lodged. The maximum fines are:
- corporations—$13 750 for each report
- secretaries—$550 for each report.
This year the Registrar is focusing on reporting by large corporations. Any large corporation that does not report by 31 December 2009 or apply for an exemption will be subject to compliance action by the Registrar.
There is no fee for lodging reports or applying for an exemption. Any corporation that needs help filling in or lodging their reports can ask the Registrar.
For more information about reporting visit www.oric.gov.au.
Contact:
Christa de Jager on 6219 7645 or
Lisa Donnelly on (02) 6219 7611,
28 October 2009
ORIC MR0910-13