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Corporations (Aboriginal and Torres Strait Islander) Bill 2006

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

Division 353 Registrar may exempt from record keeping and reporting requirements

353-1   Registrar’s power to make specific exemption order

             (1)  On an application made in accordance with subsection (4) in relation to an Aboriginal and Torres Strait Islander corporation, the Registrar may make an order in writing relieving any of the following from specified requirements of Part 7-2 or 7-3:

                     (a)  the directors;

                     (b)  the corporation;

                     (c)  the auditor.

Note:          See Part 7-5 for the criteria the Registrar must apply in deciding whether to make a determination under this subsection.

             (2)  An order under subsection (1) is not a legislative instrument.

             (3)  The order may:

                     (a)  be expressed to be subject to conditions; and

                     (b)  be indefinite or limited to a specified period.

             (4)  The application must:

                     (a)  specify the provision or provisions in relation to which the exemption is being sought; and

                     (b)  be authorised by a resolution of the directors; and

                     (c)  be in writing and signed by a director; and

                     (d)  be lodged with the Registrar.

             (5)  The Registrar may, in writing, revoke, vary or suspend the order.

             (6)  A revocation, variation or suspension under subsection (5) is not a legislative instrument.

             (7)  The Registrar must give the applicant written notice of the making, revocation, variation or suspension of the order.

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

                   Despite subsection 353-1(4), the Registrar may make a determination under section 353-1 even if the application does not specify the provisions in relation to which the exemption is being sought.

353-10   Registrar’s power to make class orders

             (1)  The Registrar may make an order in writing in respect of a specified class of Aboriginal and Torres Strait Islander corporation relieving any of the following from all or specified requirements of Part 7-2 or 7-3:

                     (a)  directors;

                     (b)  the corporations themselves;

                     (c)  auditors of the corporations.

Note:          See Part 7-5 for the criteria the Registrar must apply in deciding whether to make a determination under this subsection.

             (2)  An order under subsection (1) in relation to a specified class of Aboriginal and Torres Strait Islander corporation is a legislative instrument.

             (3)  The order may:

                     (a)  be expressed to be subject to conditions; and

                     (b)  be indefinite or limited to a specified period.

             (4)  The Registrar may, in writing, revoke, vary or suspend the order.

             (5)  Notice of the making, revocation, variation or suspension of the order must be published in the Gazette .