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Corporations (Aboriginal and Torres Strait Islander) Bill 2006

 

 

 

 

 

 

Corporations (Aboriginal and Torres Strait Islander) Act 2006

 

No.      , 2006

 

 

 

 

 

 

 



 

 

 

 

 

 

Corporations (Aboriginal and Torres Strait Islander) Act 2006

 

No.      , 2006

 

 

 

 

 

An Act to provide for Aboriginal and Torres Strait Islander corporations, and for related purposes

 

 

 



Contents

Chapter 1—Introduction                                                                                         2

Part 1-1—Preliminary                                                                                                            2

Division 1—Preliminary                                                                                               2

1-1......... Short title............................................................................................ 2

1-5......... Commencement.................................................................................. 2

1-10....... Act binds Crown................................................................................ 2

1-15....... Geographical application of Act......................................................... 2

1-20....... Act applies regardless of residence, place of formation etc................ 3

1-25....... Objects of this Act............................................................................. 3

1-30....... Office of the Registrar of Aboriginal and Torres Strait Islander Corporations        3

1-35....... Interpretative provisions.................................................................... 4

Part 1-2—Overview of Act                                                                                                  5

Division 6—Overview of Act                                                                                     5

6-1......... Overview of Act................................................................................. 5

6-5......... Aboriginal and Torres Strait Islander corporations............................ 5

6-10....... Basic features of an Aboriginal and Torres Strait Islander corporation 5

6-15....... Members and observers...................................................................... 6

6-20....... Meetings............................................................................................. 6

6-25....... Officers............................................................................................... 6

6-30....... Record keeping, reporting requirements and books............................ 6

6-35....... Civil consequences of contravening civil penalty provisions............. 7

6-40....... Lodgments and registers..................................................................... 7

6-45....... Regulation and enforcement................................................................ 7

6-50....... External administration....................................................................... 7

6-55....... Transfer of registration, deregistration and unclaimed property........ 7

6-60....... Offences.............................................................................................. 8

6-65....... Courts and proceedings...................................................................... 8

6-70....... Administration.................................................................................... 8

6-75....... Registrar and Deputy Registrars of Aboriginal and Torres Strait Islander Corporations        8

6-80....... Interpreting this Act........................................................................... 8

Chapter 2—Aboriginal and Torres Strait Islander corporations      9

Part 2-1—Introduction                                                                                                           9

Division 16—Introduction                                                                                           9

16-1....... What this Chapter is about................................................................. 9

16-5....... Meaning of Aboriginal and Torres Strait Islander corporation ......... 9

Part 2-2—Applications for registration of an Aboriginal and Torres Strait Islander corporation 10

Division 21—Application for new registration of an Aboriginal and Torres Strait Islander corporation                                                                                                                       10

21-1....... Application for registration.............................................................. 10

21-5....... Matters to accompany application.................................................. 12

21-10..... Registrar may seek further information............................................ 12

Division 22—Application to register existing body corporate under Part 2-3    13

22-1....... Application for registration.............................................................. 13

22-5....... Matters to accompany application.................................................. 15

22-10..... Registrar may seek further information............................................ 16

Division 23—Application to register amalgamated corporation under Part 2-3                17

23-1....... Application for registration.............................................................. 17

23-5....... Matters to accompany application.................................................. 19

23-10..... Registrar may seek further information............................................ 19

Part 2-3—Decisions on applications                                                                            21

Division 26—Registrar to decide application                                                 21

26-1....... Registrar to decide application......................................................... 21

26-5....... Registrar may grant application if application is incomplete etc..... 23

26-10..... Registrar may grant application if some basic requirements are not met 24

26-15..... Registrar not to register trade unions etc.......................................... 24

Division 29—What are the basic requirements for registration?        25

29-1....... Minimum number of members requirement..................................... 25

29-5....... Indigeneity requirement.................................................................... 25

29-10..... Age of members requirement............................................................ 25

29-15..... Pre-incorporation requirement.......................................................... 25

29-17..... Pre-transfer of registration requirement............................................ 26

29-18..... Creditor notice requirement.............................................................. 28

29-19..... Pre-amalgamation requirements........................................................ 30

29-20..... Internal governance rules requirement.............................................. 31

29-25..... Name requirement............................................................................. 31

Division 32—Decisions on applications                                                             32

32-1....... Successful applications..................................................................... 32

32-5....... Unsuccessful applications................................................................ 32

Part 2-4—Registration of an Aboriginal and Torres Strait Islander corporation as a small, medium or large corporation                                                                                                              34

Division 37—Registration of an Aboriginal and Torres Strait Islander corporation as a small, medium or large corporation                                                                                  34

37-1....... Registrar to register Aboriginal and Torres Strait Islander corporation as a small, medium or large corporation    34

37-5....... Registrar may alter registered size of corporation after registration. 35

37-10..... Small, medium and large corporations.............................................. 36

37-15..... When an Aboriginal and Torres Strait Islander corporation controls an entity       37

37-20..... Counting employees......................................................................... 37

37-25..... Accounting standards....................................................................... 38

Part 2-5—Effects of registration                                                                                   39

Division 42—Effects of registration                                                                     39

42-1....... Corporation comes into existence on registration............................. 39

42-3....... Effect of registration of existing body corporate under Part 2-3...... 39

42-4....... Effect of registration of amalgamated corporation under Part 2-3.... 39

42-5....... Corporation’s name.......................................................................... 43

42-10..... Members, directors, corporation secretary and contact person of corporation      43

42-15..... Registered office............................................................................... 44

42-20..... Document access address................................................................. 45

42-25..... Corporation may have common seal................................................ 45

42-30..... Vesting of property in corporation on registration.......................... 46

42-35..... Body corporate registered as Aboriginal and Torres Strait Islander corporation (liability of members on winding up).......................................................................................................... 46

42-40..... Body corporate registered as Aboriginal and Torres Strait Islander corporation (modification by regulations)     47

42-45..... Registration of amalgamated corporation (liability of members on winding up)     48

42-50..... Registration of amalgamated corporation (modification by regulations) 48

Part 2-6—Arrangements and reconstructions                                                       50

Division 45—Application of Corporations Act arrangements and reconstructions provisions                 50

45-1....... Applying Corporations Act arrangements and reconstructions provisions to Aboriginal and Torres Strait Islander corporations...................................................................................... 50

Chapter 3—Basic features of an Aboriginal and Torres Strait Islander corporation 52

Part 3-1—Introduction                                                                                                         52

Division 52—Introduction                                                                                         52

52-1....... What this Chapter is about............................................................... 52

Part 3-2—Rules dealing with the internal governance of corporations   53

Division 57—Introduction                                                                                         53

57-1....... What this Part is about..................................................................... 53

57-5....... List of internal governance rules....................................................... 54

Division 60—What are the replaceable rules and when do they apply to a corporation?             59

60-1....... Replaceable rules.............................................................................. 59

60-5....... Corporation’s constitution can modify or replace replaceable rules 59

60-10..... Effect of constitution and replaceable rules...................................... 60

60-15..... Failure to comply with replaceable rules.......................................... 60

60-20..... Modification by regulations............................................................. 60

Division 63—What are the internal governance rules of a corporation?               61

63-1....... Meaning of internal governance rules............................................... 61

Division 66—What are the internal governance rules requirements?    62

66-1....... Requirements.................................................................................... 62

66-5....... Meaning of cover the matters provided for in the replaceable rules 63

Division 69—Constitutions and amendment and replacement of constitutions                 65

Subdivision 69-A—Constitution on registration                                                 65

69-1....... Constitution of an Aboriginal and Torres Strait Islander corporation 65

Subdivision 69-B—Constitutional changes after registration                          65

69-5....... Overview—ways a constitution may be changed............................ 65

69-10..... Meaning of constitutional change etc............................................... 66

69-15..... Extra requirements for constitutional change in constitution........... 67

69-20..... Corporation to lodge copy of constitutional changes....................... 67

69-25..... Special administrator to lodge copy of constitutional changes......... 68

69-30..... Registrar to determine if constitutional change should be registered 68

69-35..... Registrar may change an Aboriginal and Torres Strait Islander corporation’s constitution on own initiative        69

69-40..... Date of effect of constitutional change............................................. 71

Division 72—Other matters concerning constitutions etc.                     72

72-1....... Registrar may direct corporation to lodge constitution.................... 72

72-5....... Corporation must provide governance material to members............ 72

72-10..... Constitution may limit powers........................................................ 73

Part 3-3—Minimum number of members of Aboriginal and Torres Strait Islander corporations                 74

Division 77—Minimum number of members of Aboriginal and Torres Strait Islander corporations    74

77-1....... What this Part is about..................................................................... 74

77-5....... Minimum number of members requirement..................................... 74

77-10..... Registrar may exempt if appropriate and reasonable to do so......... 75

77-15..... Registrar may determine a different number to number requested... 76

77-20..... Earlier determination taken to be revoked........................................ 76

77-25..... Notice to be given............................................................................. 76

Part 3-4—Names                                                                                                                    77

Division 82—Introduction                                                                                         77

82-1....... What this Part is about..................................................................... 77

Division 85—What names may a corporation have?                                   78

85-1....... Corporation’s name requirements.................................................... 78

85-5....... Available names................................................................................ 79

85-10..... Acceptable abbreviations.................................................................. 80

85-15..... Using a name and ICN on documents............................................... 81

85-20..... Exception to requirement to have ICN on receipts.......................... 82

85-25..... Regulations may exempt from requirement to set out information on documents  82

Division 88—How is a corporation’s name changed?                                83

88-1....... Corporation changing its name......................................................... 83

88-5....... Registrar’s power to direct corporation to change its name............. 83

88-10..... If Aboriginal and Torres Strait Islander corporation becomes a registered native title body corporate  84

88-15..... If Aboriginal and Torres Strait Islander corporation ceases to be a registered native title body corporate             85

88-20..... Registrar must issue new certificate if name changes....................... 85

88-25..... Effect of name change....................................................................... 86

Part 3-5—Corporation powers and how they are exercised                          87

Division 93—Introduction                                                                                         87

93-1....... What this Part is about..................................................................... 87

Division 96—What are a corporation’s powers?                                          88

96-1....... Legal capacity and powers............................................................... 88

Division 99—How are a corporation’s powers exercised?                     89

99-1....... Agent exercising a corporation’s power to make contracts etc........ 89

99-5....... Execution of documents (including deeds) by the corporation itself 89

Part 3-6—Assumptions people dealing with Aboriginal and Torres Strait Islander corporations are entitled to make                                                                                                                     91

Division 104—Assumptions people dealing with Aboriginal and Torres Strait Islander corporations are entitled to make                                                                                   91

104-1..... Entitlement to make assumptions.................................................... 91

104-5..... Assumptions that can be made under section 104-1........................ 92

104-10... Information available to the public from Registrar does not constitute constructive notice   94

Part 3-7—Registered office or document access address                              95

Division 109—Introduction                                                                                      95

109-1..... What this Part is about..................................................................... 95

Division 112—Registered office                                                                            96

112-1..... General.............................................................................................. 96

112-5..... Corporation to have registered office............................................... 96

112-10... Registrar may change address of registered office to a director’s address               97

112-15... Corporation’s name must be displayed............................................ 98

112-20... Address of registered office etc........................................................ 98

Division 115—Document access address                                                       100

115-1..... Division applies to Aboriginal and Torres Strait Islander corporations registered as small or medium corporations........................................................................................................ 100

115-5..... Corporation to have document access address............................... 100

115-10... Registrar may change document access address to a director’s address  101

115-15... Registrar may direct corporation to change the location of its document access address        102

115-20... Address of document access address.............................................. 102

Part 3-8—Service on Aboriginal and Torres Strait Islander corporations 104

Division 120—Service on Aboriginal and Torres Strait Islander corporations 104

120-1..... Service on Aboriginal and Torres Strait Islander corporation......... 104

Chapter 4—Members and observers                                                      106

Part 4-1—Introduction                                                                                                       106

Division 130—Introduction                                                                                    106

130-1..... What this Chapter is about............................................................. 106

Part 4-2—Members                                                                                                            107

Division 135—Introduction                                                                                    107

135-1..... What this Part is about................................................................... 107

Division 138—Who is a member of an Aboriginal and Torres Strait Islander corporation?       108

138-1..... Meaning of member ........................................................................ 108

Division 141—Membership of Aboriginal and Torres Strait Islander corporations        109

Subdivision 141-A—Introduction                                                                          109

141-1..... Overview........................................................................................ 109

Subdivision 141-B—Ongoing requirements relating to membership that are imposed on an Aboriginal and Torres Strait Islander corporation                                                                   109

141-5..... Minimum number of members requirement................................... 109

141-10... Indigeneity requirement.................................................................. 109

141-15... Age of members requirement.......................................................... 110

Subdivision 141-C—A person’s eligibility for membership of an Aboriginal and Torres Strait Islander corporation                                                                                                        110

141-20... Eligibility for membership.............................................................. 110

141-25... Corporation may have other eligibility requirements for membership 111

Division 144—How to become a member of an Aboriginal and Torres Strait Islander corporation       112

144-1..... How does a person become a member?.......................................... 112

144-5..... Application to corporation............................................................. 112

144-10... Determination of applications for membership.............................. 112

144-15... Fees for membership and being an observer................................... 114

Division 147—Obligations of members                                                           115

147-1..... Obligation to contribute on winding up.......................................... 115

147-5..... Corporation may impose other member obligations...................... 115

147-10... Liability of corporation members................................................... 115

Division 150—How does a person cease to be a member of an Aboriginal and Torres Strait Islander corporation?                                                                                         116

Subdivision 150-A—General                                                                                 116

150-1..... Cessation of membership............................................................... 116

Subdivision 150-B—Resignation of membership                                              116

150-10... Resignation..................................................................................... 116

Subdivision 150-C—Cancellation of membership                                             117

150-15... General............................................................................................ 117

150-20... Member not eligible for membership etc. (replaceable rule—see section 60-1)      118

150-25... Member not contactable................................................................. 119

150-30... Member is not an Aboriginal and Torres Strait Islander person.... 120

150-35... Member misbehaves....................................................................... 121

Division 153—Can there be different classes of members?                123

153-1..... Different classes of members.......................................................... 123

Part 4-3—Observers                                                                                                          124

Division 158—Observers                                                                                        124

158-1..... What this Part is about................................................................... 124

158-5..... Observers........................................................................................ 124

Part 4-4—Protection of members’ interests                                                         126

Division 163—Rights and remedies to protect interests of members 126

163-1..... Rights and remedies........................................................................ 126

Division 166—Oppressive conduct of affairs                                                127

166-1..... Grounds for Court order................................................................. 127

166-5..... Orders the Court can make............................................................. 127

166-10... Who can apply for an order?.......................................................... 129

166-15... Requirement for person to lodge order........................................... 129

Division 169—When may a person bring or intervene in proceedings on behalf of an Aboriginal and Torres Strait Islander corporation?                                         130

169-1..... Bringing, or intervening in, proceedings on behalf of a corporation 130

169-5..... Applying for and granting leave..................................................... 131

169-10... Substitution of another person for the person granted leave.......... 132

169-15... Effect of ratification by members................................................... 133

169-20... Leave to discontinue, compromise or settle proceedings brought, or intervened in, with leave              134

169-25... General powers of the Court.......................................................... 134

169-30... Power of the Court to make costs orders....................................... 135

Division 172—What protections apply to variations or cancellations of class rights?    136

172-1..... Varying and cancelling class rights.................................................. 136

172-5..... Certain actions taken to vary rights etc.......................................... 137

172-10... Variation, cancellation or modification without unanimous support of class          137

172-15... Variation, cancellation or modification with unanimous support of class               138

Division 175—When may a member inspect a corporation’s books? 139

175-1..... Order for inspection of books of corporation................................ 139

175-5..... Ancillary orders.............................................................................. 140

175-10... Disclosure of information acquired in inspection........................... 140

175-15... Corporation or directors may allow member to inspect books (replaceable rule—see section 60-1)     141

Part 4-5—Registers of members and former members                                 142

Division 180—Registers of members and former members                142

180-1..... Aboriginal and Torres Strait Islander corporations to maintain register of members              142

180-5..... Information on the register of members.......................................... 142

180-10... Aboriginal and Torres Strait Islander corporations to maintain register of former members   143

180-15... Information on the register of former members.............................. 143

180-20... Location and inspection of registers............................................... 144

180-22... Register of members and register of former members may be maintained in one document    144

180-25... Right to inspect and get copies....................................................... 144

180-30... Aboriginal and Torres Strait Islander corporation to make register of members available at AGM        145

180-35... Aboriginal and Torres Strait Islander corporation to give Registrar copy of register of members or register of former members.......................................................................................... 146

180-40... Correction of register of members or register of former members.. 146

180-45... Evidentiary value of registers......................................................... 147

Division 183—Use of information on the register of members or register of former members               148

183-1..... Use of information on register of members or register of former members             148

Part 4-6—Exemption from operation of certain provisions of this Chapter                150

Division 187—Exemption from operation of certain provisions of this Chapter               150

187-1..... What this Part is about................................................................... 150

187-5..... Exemption from certain provisions of this Chapter....................... 150

187-10... Registrar may make determination even if application is incomplete 151

187-15... Registrar’s power to make determinations..................................... 151

187-20... Criteria for determinations.............................................................. 152

Chapter 5—Meetings                                                                                              154

Part 5-1—Introduction                                                                                                       154

Division 193—Introduction                                                                                    154

193-1..... What this Chapter is about............................................................. 154

Part 5-2—General meetings                                                                                          155

Division 198—Introduction                                                                                    155

198-1..... What this Part is about................................................................... 155

Division 201—What are the rules concerning general meetings?    156

Subdivision 201-A—Who may call general meetings?                                    156

201-1..... Director may call meetings (replaceable rule—see section 60-1)... 156

201-5..... Request by members for directors to call general meetings............ 156

201-10... When must directors comply with members’ request?.................. 157

201-15... When must a requested meeting be held?....................................... 158

Subdivision 201-B—How to call general meetings                                            158

201-20... Amount of notice of general meetings............................................ 158

201-25... Notice of general meeting to members, officers and observers....... 159

201-30... Auditor entitled to notice and other communications.................... 161

201-35... Contents of notice of general meeting............................................. 161

Subdivision 201-C—Members’ rights to put resolutions etc. to general meeting               162

201-40... Members’ resolutions..................................................................... 162

201-45... Notice of members’ resolutions...................................................... 163

201-50... Members’ statements to be distributed.......................................... 163

Subdivision 201-D—Holding general meetings                                                 165

201-55... Purpose........................................................................................... 165

201-60... Time and place for general meeting................................................. 165

201-65... Technology..................................................................................... 165

201-70... Quorum........................................................................................... 165

201-75... Chairing general meeting (replaceable rule—see section 60-1)....... 166

201-80... Auditor’s right to be heard at general meetings.............................. 167

201-85... Adjourned meetings........................................................................ 167

Subdivision 201-E—Proxies                                                                                   168

201-90... Who may appoint a proxy (replaceable rule—see section 60-1)... 168

201-95... Rights of proxies............................................................................. 168

201-100. Appointing a proxy........................................................................ 169

201-105. Proxy documents............................................................................ 171

201-110. Body corporate representative....................................................... 171

Subdivision 201-F—Voting at general meetings                                               172

201-115. How many votes a member has (replaceable rule—see section 60-1) 172

201-120. Objections to right to vote (replaceable rule—see section 60-1).... 172

201-125. How voting is carried out (replaceable rule—see section 60-1)..... 173

201-130. Matters on which a poll may be demanded.................................... 173

201-135. When a poll is effectively demanded.............................................. 173

201-140. When and how polls must be taken (replaceable rule—see section 60-1)               174

Subdivision 201-G—First general meeting and annual general meetings   174

201-145. Corporation must hold first general meeting within 3 months of registration         174

201-150. Corporation must hold AGM........................................................ 175

201-155. Extension of time for holding AGM............................................... 175

201-160. Business of AGM.......................................................................... 176

201-165. Questions and comments by members on corporation management at AGM        176

201-170. Questions by members of auditors at AGM.................................. 176

Division 204—Resolutions without a general meeting                           177

204-1..... Circulating resolutions.................................................................... 177

204-5..... Resolutions of 1 member corporations........................................... 178

Part 5-3—Directors’ meetings                                                                                      179

Division 209—Introduction                                                                                    179

209-1..... What this Part is about................................................................... 179

Division 212—What are the rules concerning directors’ meetings? 180

212-1..... Constitution to provide for meetings............................................. 180

212-5..... Calling directors’ meetings (replaceable rule—see section 60-1).... 180

212-10... Use of technology........................................................................... 180

212-15... Chairing directors’ meetings (replaceable rule—see section 60-1). 180

212-20... Quorum at directors’ meetings....................................................... 181

212-25... Passing of directors’ resolutions (replaceable rule—see section 60-1) 181

Division 215—Resolutions and declarations without meetings          182

215-1..... Circulating resolutions of corporation with more than 1 director (replaceable rule—see section 60-1)  182

215-5..... Resolutions and declarations of 1 director corporation.................. 182

Part 5-4—Minutes of meetings                                                                                    184

Division 220—Minutes of meetings                                                                  184

220-1..... What this Part is about................................................................... 184

220-5..... Minutes.......................................................................................... 184

220-10... Members’ access to minutes.......................................................... 186

Part 5-5—Exemption from operation of this Chapter                                      188

Division 225—Exemption from operation of this Chapter                    188

225-1..... What this Part is about................................................................... 188

225-5..... Exemption from the provisions of this Chapter............................. 188

225-10... Registrar may make determination even if application is incomplete 189

225-15... Registrar’s power to make determinations..................................... 189

225-20... Criteria for determinations.............................................................. 190

Chapter 6—Officers                                                                                                 191

Part 6-1—Introduction                                                                                                       191

Division 235—Introduction                                                                                    191

235-1..... What this Chapter is about............................................................. 191

Part 6-2—Appointment, remuneration and cessation of appointment of directors                 192

Division 240—Introduction                                                                                    192

240-1..... What this Part is about................................................................... 192

Division 243—Number of directors                                                                   193

243-1..... Minimum number of directors........................................................ 193

243-5..... Maximum number of directors....................................................... 193

Division 246—Appointment of directors                                                        194

246-1..... Eligibility for appointment as a director......................................... 194

246-5..... Majority of director requirements.................................................. 194

246-10... Consent to act as director............................................................... 195

246-15... Corporation may appoint a director (replaceable rule—see section 60-1)              195

246-20... Directors may appoint other directors to make up a quorum (replaceable rule—see section 60-1)       195

246-25... Term of appointment..................................................................... 196

246-30... Alternate directors (replaceable rule—see section 60-1)................ 197

246-35... Effectiveness of acts by directors................................................... 197

Division 249—Resignation, retirement or removal of directors        198

249-1..... How does a person cease to be a director?..................................... 198

249-5..... Director may resign........................................................................ 198

249-10... Removal by members..................................................................... 198

249-15... Removal by other directors............................................................ 200

Division 252—Remuneration of directors                                                      203

252-1..... Remuneration.................................................................................. 203

252-5..... Members may obtain information about directors’ remuneration.. 203

Part 6-3—Appointment of secretaries and contact persons                        206

Division 257—Appointment of secretaries and contact persons       206

257-1..... What this Part is about................................................................... 206

257-5..... Requirement to have a secretary or contact person........................ 206

257-10... Who may be a secretary or contact person.................................... 207

257-15... Consent to act as secretary or contact person................................ 207

257-20... How a secretary or contact person is appointed............................ 208

257-25... Director to be contact person in certain circumstances.................. 208

257-30... Contact person must pass on communications received................ 208

257-35... Secretary must pass on communications received.......................... 209

257-40... Effectiveness of acts by secretaries................................................ 209

257-45... Terms and conditions of office for secretaries (replaceable rule—see section 60-1)               210

257-50... Terms and conditions of contact person’s appointment (replaceable rule—see section 60-1)               210

Part 6-4—Duties and powers of directors and other officers and employees            211

Division 262—Introduction                                                                                    211

262-1..... What this Part is about................................................................... 211

Division 265—General duties                                                                               212

265-1..... Care and diligence—civil obligation only........................................ 212

265-5..... Good faith—civil obligations.......................................................... 213

265-10... Use of position—civil obligations.................................................. 214

265-15... Use of information—civil obligations............................................. 214

265-20... Acts done to comply with Native Title legislation obligations...... 215

265-25... Good faith, use of position and use of information—criminal offences  215

265-30... Interaction of sections 265-1 to 265-25 with other laws etc.......... 217

265-35... Directors of wholly-owned subsidiaries......................................... 217

265-40... Responsibility of secretaries for certain contraventions................ 217

265-45... Meaning of reasonable reliance on information or advice provided by others         218

265-50... Responsibility for actions of delegate............................................ 219

Division 268—Duties in relation to disclosure of, and voting on matters involving, material personal interests                                                                                                  221

268-1..... Material personal interest—director’s duty to disclose................. 221

268-5..... Interest as common law holder of native title................................. 223

268-10... Director may give other directors standing notice about an interest 223

268-15... Interaction of sections 268-1 and 268-10 with other laws etc....... 225

268-20... Restrictions on voting..................................................................... 225

268-25... Registrar’s power to make declarations and class orders............... 227

Division 271—Duty to discharge certain trust liabilities                        229

271-1..... Directors liable for debts and other obligations incurred by corporation as trustee                229

Division 274—Powers of directors                                                                     230

274-1..... Powers of directors (replaceable rule—see section 60-1)............... 230

274-5..... Negotiable instruments (replaceable rule—see section 60-1)......... 230

274-10... Delegation....................................................................................... 230

274-15... Right of access to corporation books............................................. 231

Part 6-5—Disqualification from managing corporations                                233

Division 279—Disqualification from managing corporations                233

279-1..... Disqualified person not to manage corporations............................ 233

279-5..... Automatic disqualification.............................................................. 234

279-10... Extension of period of automatic disqualification.......................... 236

279-15... Court power of disqualification—contravention of civil penalty provision           236

279-20... Court power of disqualification—insolvency and non-payment of debts              237

279-25... Court power of disqualification—repeated contraventions of Act 238

279-30... Registrar’s power of disqualification.............................................. 239

279-35... Court power to grant leave............................................................. 241

Part 6-6—Member approval needed for related party benefit                  243

Division 284—Need for member approval                                                     243

284-1..... Need for member approval for financial benefit............................. 243

284-5..... Consequences of breach.................................................................. 243

284-10... Exemptions..................................................................................... 244

Division 287—Exceptions to the requirement for member approval 245

287-1..... Remuneration and reimbursement for officer or employee............ 245

287-5..... Benefit to or by closely-held subsidiary........................................ 246

287-10... Benefits to members that do not discriminate unfairly.................. 247

287-12... Benefits given to comply with Native Title legislation obligations 247

287-15... Court order..................................................................................... 247

Division 290—Procedure for obtaining member approval                    248

290-1..... Resolution may specify matters by class or kind.......................... 248

290-5..... Corporation must lodge material that will be put to members with the Registrar   248

290-10... Requirements for explanatory statement to members.................... 249

290-15... Registrar may comment on proposed resolution............................ 250

290-20... Requirements for notice of meeting................................................ 250

290-25... Other material put to members....................................................... 251

290-30... Proposed resolution cannot be varied............................................. 252

290-35... Voting by or on behalf of related party interested in proposed resolution             252

290-40... Voting on the resolution................................................................. 253

290-45... Notice of resolution to be lodged.................................................... 254

290-50... Declaration by court of substantial compliance............................. 254

Division 293—Related parties and financial benefits                               255

293-1..... Related parties................................................................................ 255

293-5..... Giving a financial benefit................................................................ 256

Division 296—Interaction with other rules                                                   258

296-1..... General duties still apply............................................................... 258

Part 6-7—Public information about directors, secretaries and contact persons       259

Division 301—Introduction                                                                                    259

301-1..... What this Part is about................................................................... 259

Division 304—Information to be provided                                                     260

304-1..... Director, alternate director, secretary or contact person may notify the Registrar of resignation or retirement     260

304-5..... Notice of name and address of directors and secretaries to the Registrar                260

304-10... Director, alternate director, secretary and contact person must give information to corporation           262

304-15... Address for officers........................................................................ 262

Division 307—Registrar may ask for information                                      264

307-1..... Registrar’s power to ask for information about person’s position as director, secretary or contact person          264

Part 6-8—Exemption from operation of certain provisions of this Chapter                265

310-1..... What this Part is about................................................................... 265

310-5..... Exemption from certain provisions of this Chapter....................... 265

310-10... Registrar may make determination even if application is incomplete 266

310-15... Registrar’s power to make determinations..................................... 266

310-20... Criteria for determinations.............................................................. 267

Chapter 7—Record keeping, reporting requirements and books     269

Part 7-1—Introduction                                                                                                       269

Division 317—Introduction                                                                                    269

317-1..... What this Chapter is about............................................................. 269

Part 7-2—Record keeping requirements                                                                270

Division 322—Record keeping requirements                                             270

322-1..... What this Part is about................................................................... 270

322-5..... Obligation to keep copy of constitution and records about officers, contact person, etc.      271

322-10... Obligation to keep financial records............................................... 271

322-15... Physical format............................................................................... 272

322-20... Place where records are kept.......................................................... 272

322-25... Director access................................................................................ 273

Part 7-3—Reporting requirements                                                                             274

Division 327—Overview of reporting obligations                                      274

327-1..... Reports that an Aboriginal and Torres Strait Islander corporation must prepare and lodge   274

Division 330—General report for each financial year                              275

330-1..... Aboriginal and Torres Strait Islander corporation must prepare a general report each financial year     275

330-5..... Contents of general report.............................................................. 275

330-10... General report to be lodged with Registrar..................................... 276

Division 333—Financial and other reports required by the regulations                277

333-1..... What this Division is about............................................................ 277

333-5..... Regulations may require financial reports, directors’ reports and other reports to be prepared             277

333-10... Contents of reports........................................................................ 279

333-15... Other requirements in relation to report......................................... 280

333-20... Aboriginal and Torres Strait Islander corporation to obtain audit report if audit required      281

Division 336—Registrar may increase reporting requirements        282

336-1..... Registrar may require additional report, or otherwise increase reporting requirements, for particular corporation........................................................................................................ 282

336-5..... Registrar may require additional reports, or otherwise increase reporting requirements, for class of corporation 284

Division 339—Audit of financial reports                                                         287

Subdivision 339-A—Introduction                                                                          287

339-1..... What this Division is about............................................................ 287

339-5..... Application of Division.................................................................. 287

339-10... When financial report required to comply with accounting standards 288

339-15... When audit required to be conducted in accordance with auditing standards          288

339-20... Lead and review auditors................................................................ 288

339-25... Professional members of the audit team......................................... 289

Subdivision 339-B—Conduct of the audit                                                            289

339-30... Auditor to form opinion................................................................. 289

339-35... Auditor obligations in relation to auditing standards...................... 290

339-40... Auditor’s report............................................................................. 290

339-45... Other requirements in relation to auditor’s report......................... 291

339-50... Auditor’s independence declaration............................................... 292

339-55... Audit working papers to be retained for 7 years............................ 294

Subdivision 339-C—Qualification, experience and registration                    297

339-60... Qualification and experience: individual auditor............................. 297

339-65... Qualification and experience: audit firm......................................... 298

339-70... Registration requirements for appointment of company as auditor 299

Subdivision 339-D—Auditor independence                                                         301

339-75... Independence of auditors: application of Corporations Act auditor independence provisions              301

339-80... Independence of auditors: alternative independence requirements. 302

Subdivision 339-E—Auditor’s powers and duties                                              303

339-85... Auditor’s power to obtain information.......................................... 303

339-90... Reporting to the Registrar.............................................................. 303

339-95... Assisting auditor............................................................................. 306

Subdivision 339-F—Appointment and removal of auditors                               307

339-100. Appointment and removal of auditors........................................... 307

Division 342—Financial reporting to members                                           308

342-1..... What this Division is about............................................................ 308

342-5..... Annual financial reporting to members........................................... 308

342-10... Deadline for giving member copy of report.................................... 310

Division 345—Consolidated financial report                                                311

345-1..... Directors and officers of controlled entity to give information...... 311

345-5..... Auditor’s power to obtain information from controlled entity...... 311

345-10... Controlled entity to assist auditor.................................................. 311

345-15... Application of sections 345-1 to 345-10 to entity that has ceased to be controlled               312

Division 348—Lodging reports                                                                            313

348-1..... Lodging annual reports with the Registrar...................................... 313

348-5..... Relodgment if report amended after lodgment................................ 313

Part 7-4—Registrar may exempt from record keeping and reporting requirements            315

Division 353—Registrar may exempt from record keeping and reporting requirements            315

353-1..... What this Part is about................................................................... 315

353-3..... Exemption from the provisions of this Chapter............................. 315

353-5..... Registrar may make determination even if application is incomplete 316

353-10... Registrar’s power to make determinations..................................... 316

Part 7-5—Criteria for determining level of reporting requirements       318

Division 358—Criteria for determining level of reporting requirements              318

358-1..... What this Part is about................................................................... 318

358-5..... Criteria for determinations about level of reporting requirements.. 318

358-10... Reporting obligations...................................................................... 319

Part 7-6—Sanctions for contraventions of record keeping and reporting requirements     321

Division 363—Sanctions for contraventions of record keeping and reporting requirements    321

363-1..... Sanctions......................................................................................... 321

Part 7-7—Modifications of record keeping and reporting requirements by regulations     322

Division 368—Modifications of record keeping and reporting requirements by regulations    322

368-1..... Modification by regulations........................................................... 322

Part 7-8—Books                                                                                                                   323

Division 373—Introduction                                                                                    323

373-1..... What this Part is about................................................................... 323

Division 376—When and where may books be inspected?                  324

376-1..... Inspection of books........................................................................ 324

376-5..... Translations of instruments and books.......................................... 325

376-10... Court may compel compliance....................................................... 326

376-15... Admissibility of books in evidence................................................ 326

376-20... Form of books................................................................................ 326

376-25... Protection of books........................................................................ 327

376-30... Evidentiary value............................................................................ 328

376-35... Falsification of books..................................................................... 328

Chapter 8—Civil consequences of contravening civil penalty provisions                 330

Division 386—Civil consequences of contravening civil penalty provisions       330

386-1..... Declarations of contravention......................................................... 330

386-5..... Declaration of contravention is conclusive evidence...................... 331

386-10... Pecuniary penalty orders................................................................ 331

386-15... Compensation orders—civil penalty provisions............................ 331

386-20... Who may apply for a declaration or order..................................... 332

386-25... Time limit for application for a declaration or order...................... 333

386-30... Civil evidence and procedure rules for declarations of contravention and civil penalty orders               333

386-35... Civil proceedings after criminal proceedings.................................. 333

386-40... Criminal proceedings during civil proceedings................................ 333

386-45... Criminal proceedings after civil proceedings.................................. 334

386-50... Evidence given in proceedings for penalty not admissible in criminal proceedings 334

386-55... Registrar requiring person to assist................................................ 334

386-60... Relief from liability for contravention of civil penalty provision.. 336

Chapter 9—Lodgments and registers                                                    338

Part 9-1—Introduction                                                                                                       338

Division 396—Introduction                                                                                    338

396-1..... What this Chapter is about............................................................. 338

Part 9-2—Lodgments with the Registrar                                                                339

Division 401—Introduction                                                                                    339

401-1..... What this Part is about................................................................... 339

Division 404—What is the form in which documents may be lodged? 340

404-1..... Forms for documents to be lodged with the Registrar.................... 340

404-5..... Signing documents lodged with the Registrar................................. 340

404-10... Documents lodged with the Registrar electronically...................... 340

404-15... Relodging of lost registered documents.......................................... 341

Division 407—Registrar’s powers                                                                     343

407-1..... Registrar may refuse to receive or register documents................... 343

407-5..... Registrar may require additional information................................. 343

407-10... Registrar may require information from persons on a register....... 344

407-15... Telephone or email notice of certain changes................................. 344

407-20... Registrar may destroy or dispose of lodged documents................. 345

Division 410—Courts power if documents not lodged                            346

410-1..... Court may make certain orders....................................................... 346

Part 9-3—Registers                                                                                                            348

Division 415—Introduction                                                                                    348

415-1..... What this Part is about................................................................... 348

Division 418—Registers to be kept                                                                  349

418-1..... Registers......................................................................................... 349

418-5..... Form of registers............................................................................. 349

418-10... Register of Aboriginal and Torres Strait Islander Corporations..... 349

418-15... Register of Disqualified Officers.................................................... 349

Division 421—What information may a person obtain from the Registrar?         350

421-1..... Inspection and production of records............................................. 350

421-5..... Requests and certification of copy or extract etc........................... 351

Division 424—Validity and use of information etc. obtained from a register       353

424-1..... Validity of copy or extract............................................................. 353

424-5..... Use in court proceedings etc. of documents issued by Registrar... 353

424-10... Registrar’s certificate that person was a director etc...................... 355

Chapter 10—Regulation and enforcement                                       356

Part 10-1—Introduction                                                                                                    356

Division 434—Introduction                                                                                    356

434-1..... What this Chapter is about............................................................. 356

Part 10-2—Regulation of Aboriginal and Torres Strait Islander corporations         357

Division 439—Regulation of Aboriginal and Torres Strait Islander corporations            357

439-1..... What this Part is about................................................................... 357

439-5..... Registrar may convene meetings of interested persons.................. 357

439-10... Registrar may call a general meeting (other than an AGM)............ 358

439-15... Registrar may call an AGM............................................................ 360

439-20... Registrar may require compliance with Act etc.............................. 361

Part 10-3—Enforcement                                                                                                   363

Division 444—Introduction                                                                                    363

444-1..... What this Part is about................................................................... 363

Division 447—Authorised officers                                                                     364

447-1..... Appointment of authorised officers............................................... 364

447-5..... Identity cards.................................................................................. 364

Division 450—Purposes for which powers under this Part may be exercised    365

450-1..... Purposes for which power under this Part may be exercised......... 365

Division 453—Examination of books and persons                                    366

453-1..... Examination of books..................................................................... 366

453-5..... Production of books or attendance to answer questions................ 367

453-10... Remuneration of authorised officer................................................ 368

Division 456—Warrants for books not produced                                       370

Subdivision 456-A—Warrants applied for in person                                        370

456-1..... Application for warrant to seize books not produced................... 370

456-5..... Grant of warrant............................................................................. 370

456-10... Powers where books produced or seized....................................... 371

Subdivision 456-B—Warrants by telephone or other electronic means       373

456-15... Applying for warrants by telephone or other electronic means..... 373

456-20... Issuing warrants by telephone etc.................................................. 374

456-25... Unsigned warrants by telephone etc. in court proceedings............ 375

Subdivision 456-C—Offences relating to warrants by telephone or other electronic means            375

456-30... Offence for stating incorrect names in warrants by telephone etc. 375

456-35... Offence for unauthorised form of warrant...................................... 376

456-40... Offence for execution etc. of unauthorised form of warrant........... 376

456-45... Offence for giving unexecuted form of warrant.............................. 376

Subdivision 456-D—Warrant details to be given to occupier                          377

456-50... Details of warrant to be given to occupier etc................................ 377

Part 10-4—Offences relating to regulatory and enforcement powers of Registrar               378

Division 461—Offences relating to regulatory and enforcement powers of Registrar   378

461-1..... Obstructing Registrar or interfering with meeting called by Registrar etc.              378

461-5..... False information............................................................................ 379

461-10... Concealing books relevant to investigation..................................... 379

461-15... Self-incrimination............................................................................ 380

Part 10-5—Protection for whistleblowers                                                               381

Division 466—Which disclosures qualify for protection under this Part?             381

466-1..... Disclosures qualifying for protection............................................. 381

Division 469—Effects of disclosure                                                                   383

469-1..... Disclosure that qualifies for protection not actionable etc............. 383

469-5..... Victimisation prohibited................................................................. 384

469-10... Right to compensation.................................................................... 385

Division 472—Confidentiality requirement                                                   386

472-1..... Confidentiality requirements for corporations, corporation officers and employees and auditors         386

Chapter 11—External administration                                                    388

Part 11-1—Introduction                                                                                                    388

Division 482—Introduction                                                                                    388

482-1..... What this Chapter is about............................................................. 388

Part 11-2—Special administration                                                                              390

Division 487—Special administration of Aboriginal and Torres Strait Islander corporation      390

487-1..... Registrar may put Aboriginal and Torres Strait Islander corporation under special administration       390

487-5..... Grounds for special administration................................................ 390

487-10... Show cause notice procedure.......................................................... 393

487-15... Extension of period of special administration................................ 394

487-20... Registrar may terminate special administration.............................. 394

487-25... References to corporation under special administration................. 394

Division 490—Appointment of special administrator                               396

490-1..... Registrar may appoint special administrator.................................. 396

490-5..... Period of appointment.................................................................... 396

Division 493—Notice requirements                                                                  397

493-1..... Notice of special administration determination or appointment of special administrator       397

Division 496—Effect of appointment of special administrator on officers of the corporation     399

496-1..... General rule that offices of directors and secretary vacated when special administrator appointed       399

496-5..... Registrar may determine that offices not vacated in certain circumstances             399

496-10... Powers of officers can only be exercised by, or with the consent of, special administrator   400

496-15... Only special administrator can deal with corporation’s property. 401

496-20... Order for compensation where officer involved in void transaction 402

Division 499—Function, duties and powers of special administrator 404

499-1..... Function of special administrator................................................... 404

499-5..... Powers of special administrator..................................................... 404

499-10... Applying Corporations Act provisions to Aboriginal and Torres Strait Islander corporation that is under special administration................................................................................. 405

Division 502—Special administrator to report to Registrar                 407

502-1..... Report to Registrar......................................................................... 407

Division 505—Termination of special administrator’s appointment 408

505-1..... Termination of appointment of special administrator.................... 408

505-5..... Grounds for terminating appointment............................................ 409

505-10... Registrar to appoint new special administrator in certain circumstances                409

Division 508—Transition to normal control of the corporation’s affairs at end of special administration                                                                                                                     410

508-1..... Special administrator to ensure that there will be directors when corporation ceases to be under special administration........................................................................................................ 410

508-5..... Election of directors to take over affairs of corporation when corporation ceases to be under special administration........................................................................................................ 411

Division 511—Miscellaneous                                                                               412

511-1..... Remuneration of special administrator........................................... 412

Part 11-3—Receivers, and other controllers, of property of corporations 413

Division 516—Receivers, and other controllers, of property of corporations    413

516-1..... Applying Corporations Act receiver provisions to Aboriginal and Torres Strait Islander corporations                413

Part 11-4—Administration of an Aboriginal and Torres Strait Islander corporation’s affairs with a view to executing a deed of corporation arrangement                                  415

Division 521—Administration of an Aboriginal and Torres Strait Islander corporation’s affairs with a view to executing a deed of corporation arrangement 415

521-1..... Applying Corporations Act administration provisions to Aboriginal and Torres Strait Islander corporations     415

521-5..... Administrator’s capacity to act as trustee..................................... 416

521-10... Corporations Act administrator cannot be appointed if special administrator appointed      416

521-15... Effect of appointment of special administrator on Corporations Act administrator              417

Part 11-5—Winding up                                                                                                      418

Division 526—Winding up                                                                                      418

526-1..... Court may order winding up.......................................................... 418

526-5..... Grounds for Court ordered winding up.......................................... 418

526-10... Acts etc. done to comply with Native Title legislation requirement 420

526-15... Who may apply to court for winding up order.............................. 420

526-20... Voluntary winding up..................................................................... 422

526-25... Distribution of surplus assets in winding up by Court.................. 423

526-30... Distribution of surplus assets in voluntary winding up................. 424

526-35... Applying Corporations Act winding up provisions to Aboriginal and Torres Strait Islander corporations          425

526-40... Application of Corporations Act pre-winding up provisions....... 427

Part 11-6—Insolvent trading                                                                                         429

Division 531—Insolvent trading                                                                          429

531-1..... Applying Corporations Act insolvent trading provisions to Aboriginal and Torres Strait Islander corporations  429

531-5..... Section 588G of Corporations Act prevails over conflicting Native Title legislation obligations           430

Part 11-7—Employees’ entitlements                                                                        431

Division 536—Employees’ entitlements                                                         431

536-1..... Applying Corporations Act employees’ entitlements provisions to Aboriginal and Torres Strait Islander corporations........................................................................................................ 431

Chapter 12—Transfer of registration, deregistration and unclaimed property                 433

Part 12-1—Transfer of registration to another system                                  433

Division 540—Transfer of registration                                                            433

540-1..... Transferring registration................................................................. 433

540-5..... Applying to transfer registration.................................................... 433

540-10... Registrar makes transfer of registration declaration........................ 433

540-15... Registrar to deregister corporation................................................. 434

Part 12-2—Deregistration                                                                                               435

Division 546—Deregistration                                                                               435

546-1..... Deregistration—voluntary.............................................................. 435

546-5..... Deregistration—Registrar initiated................................................. 436

546-10... Deregistration—following amalgamation or winding up................ 437

546-15... Registered native title body corporate............................................ 438

546-20... Effect of deregistration................................................................... 438

546-25... What the Registrar does with the property.................................... 440

546-30... Registrar’s power to fulfil outstanding obligations of deregistered corporation      441

546-35... Claims against insurers of deregistered corporation....................... 441

546-40... Reinstatement................................................................................. 441

546-45... Regulations may modify Division in relation to statutory Indigenous land trusts  443

Part 12-3—Unclaimed property                                                                                   444

Division 551—Unclaimed property                                                                    444

551-1..... Unclaimed property....................................................................... 444

551-5..... Registrar to deal with unclaimed property..................................... 444

551-10... Registrar and Commonwealth not liable to pay calls on shares etc. 444

551-15... Disposition of money that is unclaimed property etc................... 445

551-20... Establishment of the Aboriginal and Torres Strait Islander Corporations Unclaimed Money Account 445

551-25... Credits of amounts to Account...................................................... 445

551-30... Purposes of Account...................................................................... 445

551-35... Claims of disposition of money to incorrect payee....................... 446

551-40... Commonwealth or Registrar not liable for loss or damage............. 447

Chapter 13—Offences                                                                                            448

Part 13-1—Offences about false or misleading statements etc.               448

Division 561—Offences about false or misleading statements etc. 448

561-1..... False or misleading statements....................................................... 448

561-5..... False information etc...................................................................... 450

Part 13-2—General matters relating to offences                                               452

Division 566—General matters relating to offences                                 452

566-1..... Penalties for bodies corporate........................................................ 452

566-5..... Penalty notices............................................................................... 452

566-10... Continuing offences........................................................................ 455

566-15... Time for instituting criminal proceedings....................................... 458

566-20... Privilege against self-incrimination not available to bodies corporate in certain proceedings  459

566-25... Certain persons to assist in prosecutions....................................... 459

Chapter 14—Courts and proceedings                                                   461

Part 14-1—Powers of courts                                                                                          461

Division 576—Powers of courts                                                                           461

576-1..... Power to grant relief....................................................................... 461

576-5..... Power of Court to give directions with respect to meetings ordered by the Court 462

576-10... Appeals from decisions of receivers, liquidators etc...................... 462

576-15... Irregularities.................................................................................... 463

576-20... Power of Court to prohibit payment or transfer of money, financial products or other property         466

576-25... Injunctions...................................................................................... 468

576-30... Effect of sections 576-20 and 576-25............................................. 470

576-35... Power of Court to punish for contempt of Court.......................... 470

Part 14-2—Proceedings                                                                                                    472

Division 581—Proceedings                                                                                    472

581-1..... The Registrar’s power to intervene in proceedings........................ 472

581-5..... Civil proceedings not to be stayed................................................. 472

581-10... Standard of proof............................................................................ 472

581-15... Evidence of contravention.............................................................. 473

581-20... Costs............................................................................................... 473

581-25... Vesting of property........................................................................ 474

Part 14-3—Jurisdiction and procedure of courts                                                476

Division 586—Civil jurisdiction                                                                           476

Subdivision 586-A—Introduction                                                                          476

586-1..... Operation of Division..................................................................... 476

Subdivision 586-B—Conferral of jurisdiction                                                   477

586-5..... Jurisdiction of Federal Court and State and Territory Supreme Courts  477

586-10... Jurisdiction of Family Court and State Family Courts.................. 478

586-15... Jurisdiction of courts (decisions to prosecute and related criminal justice process decisions made by Commonwealth officers)........................................................................................... 478

586-20... Jurisdiction of lower courts............................................................ 480

586-25... Appeals.......................................................................................... 481

586-30... Courts to act in aid of each other.................................................... 482

Subdivision 586-C—Transfer of proceedings                                                    482

586-35... Transfer of proceedings by the Federal Court and State and Territory Supreme Courts        482

586-40... Transfer of proceedings by Family Court and State Family Courts 484

586-45... Transfer of proceedings in lower courts......................................... 486

586-50... Further matters for a court to consider when deciding whether to transfer a proceeding        487

586-55... Transfer may be made at any stage................................................ 487

586-60... Transfer of documents.................................................................... 487

586-65... Conduct of proceedings.................................................................. 488

586-70... Rights of appearance...................................................................... 489

586-75... Limitation on appeals..................................................................... 489

Subdivision 586-D—Rules of court                                                                      489

586-80... Rules of the Federal Court.............................................................. 489

586-85... Rules of the Supreme Court........................................................... 490

586-90... Rules of the Family Court.............................................................. 490

Division 589—Criminal jurisdiction                                                                   492

589-1..... Operation of Division..................................................................... 492

589-5..... Jurisdiction of courts...................................................................... 492

589-10... Laws to be applied......................................................................... 495

Chapter 15—Administration                                                                           496

Part 15-1—Introduction                                                                                                    496

Division 599—Introduction                                                                                    496

599-1..... What this Chapter is about............................................................. 496

Part 15-2—Protection of information                                                                        497

Division 604—Protection of information                                                         497

604-1..... What this Part is about................................................................... 497

604-5..... Protected information..................................................................... 497

604-10... Registrar’s obligations in relation to protected information........... 498

604-15... Special administrator’s obligations in relation to protected information 498

604-20... Consultant’s obligations in relation to protected information........ 498

604-25... Authorised use or disclosure.......................................................... 499

Part 15-3—Protection from liability for Registrar, Minister etc.             503

Division 609—Protection from liability for Registrar, Minister etc. 503

609-1..... Protection from liability for Minister, Registrar etc....................... 503

Part 15-4—Review of decisions                                                                                   504

Division 614—Introduction                                                                                    504

614-1..... What this Part is about................................................................... 504

Division 617—Reviewable decisions                                                                505

617-1..... Reviewable decisions...................................................................... 505

617-5..... Deadlines for making reviewable decisions..................................... 510

617-10... Notice of reviewable decision and review rights............................. 510

Division 620—Internal review of reviewable decisions                          512

620-1..... Registrar may reconsider reviewable decisions on own initiative... 512

620-5..... Reconsideration of reviewable decisions........................................ 512

Division 623—AAT review of reviewable decisions                                514

623-1..... AAT review of reviewable decisions.............................................. 514

Part 15-5—Fees                                                                                                                    515

Division 628—Fees                                                                                                    515

628-1..... Fees................................................................................................. 515

628-5..... Lodgment of document without payment of fee............................ 515

628-10... Doing act without payment of fee.................................................. 515

628-15... Effect of sections 628-5 and 628-10............................................... 516

628-20... Debt due to the Commonwealth..................................................... 516

628-25... Payment of fee does not give right to inspect or search................. 516

Part 15-6—Regulations                                                                                                    517

Division 633—Regulations                                                                                     517

633-1..... General regulation making power................................................... 517

633-5..... Regulations concerning registered native title bodies corporate..... 517

Part 15-7—Approved forms                                                                                           520

Division 638—Approved forms                                                                            520

638-1..... Registrar may approve forms......................................................... 520

Chapter 16—Registrar and Deputy Registrars of Aboriginal and Torres Strait Islander Corporations                                                                                    522

Part 16-1—Introduction                                                                                                    522

Division 648—Introduction                                                                                    522

648-1..... What this Chapter is about............................................................. 522

Part 16-2—Appointment of the Registrar and Deputy Registrars          523

Division 653—Appointment of Registrar and Deputy Registrars     523

653-1..... Registrar of Aboriginal and Torres Strait Islander Corporations.... 523

653-5..... Deputy Registrars of Aboriginal and Torres Strait Islander Corporations              523

Part 16-3—Registrar’s functions and powers                                                      524

Division 658—Registrar’s functions and powers                                       524

658-1..... Functions of the Registrar.............................................................. 524

658-5..... Aims of the Registrar...................................................................... 525

658-10... Powers of the Registrar.................................................................. 525

658-15... Registrar to have a seal................................................................... 526

658-20... Judicial notice of certain matters.................................................... 526

Part 16-4—Matters concerning the Registrar’s and Deputy Registrars’ appointments    527

Division 663—Matters concerning the Registrar’s and Deputy Registrars’ appointments       527

663-1..... Registrar’s remuneration................................................................. 527

663-5..... Resignation..................................................................................... 527

663-10... Termination of Registrar’s appointment........................................ 527

663-15... Termination of Deputy Registrar’s appointment.......................... 528

663-20... Disclosure of interests.................................................................... 528

663-25... Acting appointments...................................................................... 528

663-30... Leave of absence............................................................................. 529

663-35... Outside employment...................................................................... 529

Part 16-5—Delegation                                                                                                       530

Division 668—Delegation                                                                                       530

668-1..... Delegation by Registrar.................................................................. 530

668-5..... Sub-delegation by Deputy Registrar.............................................. 530

Part 16-6—Staffing                                                                                                              532

Division 673—Staffing                                                                                               532

673-1..... Staff assisting the Registrar and Deputy Registrar......................... 532

673-5..... Engagement of consultants etc. by the Registrar............................ 532

Chapter 17—Interpreting this Act                                                             533

Part 17-1—Meaning of some important concepts                                             533

Division 683—Directors and officers of Aboriginal and Torres Strait Islander corporations     533

683-1..... Meaning of director and officer ...................................................... 533

Division 686—Associates                                                                                       536

686-1..... Effect of Division........................................................................... 536

686-5..... Associates of bodies corporate....................................................... 536

686-10... General............................................................................................ 536

686-15... Exclusions....................................................................................... 537

Division 689—Subsidiaries and control                                                           538

689-1..... What is a subsidiary....................................................................... 538

689-5..... Control of a body corporate’s board.............................................. 538

689-10... Matters to be disregarded............................................................... 539

689-15... References in this Division to a subsidiary.................................... 540

689-20... Related bodies corporate................................................................ 540

689-25... Control............................................................................................ 540

Part 17-2—Interpretation of other expressions                                                  542

Division 694—Interpretation of other expressions                                  542

694-1..... Giving information.......................................................................... 542

694-5..... Doing acts....................................................................................... 542

694-10... Signing............................................................................................. 542

694-15... Business affairs of a body corporate.............................................. 542

694-20... Business affairs of a natural person................................................ 542

694-25... Business affairs of a partnership.................................................... 543

694-30... Business affairs of a trust............................................................... 544

694-35... Meaning of court and Court........................................................... 544

694-40... Entities............................................................................................ 545

694-45... Entities connected with a corporation (including an Aboriginal and Torres Strait Islander corporation)                545

694-50... Extension of period for doing an act............................................... 547

694-55... Involvement in contraventions....................................................... 547

694-60... Possession...................................................................................... 547

694-65... Public document of a body corporate............................................. 548

694-70... Receivers and managers.................................................................. 549

694-75... Securities......................................................................................... 549

694-80... Solvency and insolvency................................................................ 549

694-85... Meaning of chief executive officer function ..................................... 550

694-90... Applications to be in writing.......................................................... 551

694-95... Effect of certain contraventions of this Act................................... 551

694-100. Effect of provisions empowering a person to require or prohibit conduct              551

694-105. Calculation of time.......................................................................... 551

694-110. Performance of functions by Registrar or Deputy Registrar includes reference to delegate etc.             552

Part 17-3—Dictionary                                                                                                        553

Division 700—Dictionary                                                                                         553

700-1..... Dictionary....................................................................................... 553

 



 

 

 

Corporations (Aboriginal and Torres Strait Islander) Act 2006

No.      , 2006

 

 

 

An Act to provide for Aboriginal and Torres Strait Islander corporations, and for related purposes

Preamble

                   The Parliament of Australia intends that the following law will take effect according to its terms and be a special law for the descendants of the original inhabitants of Australia.

                   The law is intended, for the purposes of paragraph 4 of Article 1 of the International Convention on the Elimination of All Forms of Racial Discrimination and the Racial Discrimination Act 1975 , to be a special measure for the advancement and protection of Aboriginal peoples and Torres Strait Islanders.

The Parliament of Australia enacts:

Chapter 1 Introduction

Chapter 2 Aboriginal and Torres Strait Islander corporations