Title Corporations (Aboriginal and Torres Strait Islander) Amendment (Strengthening Governance and Transparency) Bill 2018
Database Bills & Legislation
Long Title A Bill for an Act to amend the law in relation to Aboriginal and Torres Strait Islander corporations, and for related purposes
Date 05-12-2018 03:44 PM
Source Senate
Parl No. 45
Bill Number 237/18
Bill Type Government
Portfolio Indigenous Affairs
Reps Bill Code O
Status Not Proceeding
System Id legislation/bills/s1155_first-senate/0000

Corporations (Aboriginal and Torres Strait Islander) Amendment (Strengthening Governance and Transparency) Bill 2018
</head> <body lang="EN-AU" xml:lang="EN-AU"> <div class="WordSection1"> <p class="Session">2016‑2017‑2018</p> <p class="MsoNormal"><span style="font-size:14.0pt"> </span></p> <p class="MsoNormal"><span style="font-size:14.0pt">The Parliament of the</span></p> <p class="MsoNormal"><span style="font-size:14.0pt">Commonwealth of Australia</span></p> <p class="MsoNormal"><span style="font-size:14.0pt"> </span></p> <p class="House">THE SENATE</p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="Reading">Presented and read a first time</p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="ShortT">Corporations (Aboriginal and Torres Strait Islander) Amendment (Strengthening Governance and Transparency) Bill 2018</p> <p class="MsoNormal"> </p> <p class="Actno">No.      , 2018</p> <p class="MsoNormal"> </p> <p class="Portfolio">(Indigenous Affairs)</p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="LongT">A Bill for an Act to amend the law in relation to Aboriginal and Torres Strait Islander corporations, and for related purposes</p> <p class="MsoHeader"><span class="CharAmSchNo"> </span><span class="CharAmSchText"> </span></p> <p class="MsoHeader"><span class="CharAmPartNo"> </span><span class="CharAmPartText"> </span></p> </div> <span style="font-size:11.0pt;font-family:"Times New Roman","serif""><br clear="all" style="page-break-before:always"/></span> <div class="WordSection2"> <p class="MsoNormal"><span style="font-size:18.0pt">Contents</span></p> <p class="MsoToc5">1............ Short title............................................................................................. 1</p> <p class="MsoToc5">2............ Commencement................................................................................... 1</p> <p class="MsoToc5">3............ Schedules............................................................................................ 2</p> <p class="MsoToc6">Schedule 1—Amendments<span style="font-size:9.0pt; font-weight:normal">                                                                                               </span> <span style="font-size:9.0pt;font-weight:normal">3</span></p> <p class="MsoToc7">Part 1—Classification of Aboriginal and Torres Strait Islander corporations<span style="font-size:9.0pt">     </span> <span style="font-size:9.0pt">3</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                      </span> <span style="font-size:9.0pt;font-style:normal">3</span></p> <p class="MsoToc7">Part 2—Constitutions<span style="font-size:9.0pt">                                                                                                   </span> <span style="font-size:9.0pt">5</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                      </span> <span style="font-size:9.0pt;font-style:normal">5</span></p> <p class="MsoToc7">Part 3—Review of financial reports<span style="font-size: 9.0pt">                                                                   </span> <span style="font-size:9.0pt">16</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">16</span></p> <p class="MsoToc7">Part 4—Subsidiaries and other entities<span style="font-size:9.0pt">                                                             </span> <span style="font-size:9.0pt">26</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">26</span></p> <p class="MsoToc7">Part 5—Meeting and reporting obligations<span style="font-size:9.0pt">                                                     </span> <span style="font-size:9.0pt">30</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">30</span></p> <p class="MsoToc7">Part 6—Members and membership<span style="font-size:9.0pt">                                                                     </span> <span style="font-size:9.0pt">41</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">41</span></p> <p class="MsoToc7">Part 7—Key management personnel<span style="font-size: 9.0pt">                                                                  </span> <span style="font-size:9.0pt">46</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">46</span></p> <p class="MsoToc7">Part 8—Related party transactions<span style="font-size: 9.0pt">                                                                      </span> <span style="font-size:9.0pt">49</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">49</span></p> <p class="MsoToc7">Part 9—Special administration<span style="font-size:9.0pt">                                                                              </span> <span style="font-size:9.0pt">51</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">51</span></p> <p class="MsoToc7">Part 10—Voluntary deregistration<span style="font-size: 9.0pt">                                                                      </span> <span style="font-size:9.0pt">52</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">52</span></p> <p class="MsoToc7">Part 11—Investigation and enforcement<span style="font-size:9.0pt">                                                         </span> <span style="font-size:9.0pt">54</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">54</span></p> <p class="MsoToc7">Part 12—Publication of notices<span style="font-size: 9.0pt">                                                                            </span> <span style="font-size:9.0pt">60</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">60</span></p> <p class="MsoToc7">Part 13—Independent directors<span style="font-size:9.0pt">                                                                           </span> <span style="font-size:9.0pt">62</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">62</span></p> <p class="MsoToc7">Part 14—Qualified privilege for auditors<span style="font-size:9.0pt">                                                        </span> <span style="font-size:9.0pt">64</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">64</span></p> <p class="MsoToc7">Part 15—Resolutions to be the same in all material respects<span style="font-size:9.0pt">                 </span> <span style="font-size:9.0pt">67</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">67</span></p> <p class="MsoToc7">Part 16—Unanimous requests for special administration<span style="font-size:9.0pt">                        </span> <span style="font-size:9.0pt">68</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">68</span></p> <p class="MsoToc7">Part 17—Insolvency<span style="font-size:9.0pt">                                                                                                   </span> <span style="font-size:9.0pt">69</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">69</span></p> <p class="MsoToc7">Part 18—Conflicting duties under State or Territory legislation<span style="font-size:9.0pt">         </span> <span style="font-size:9.0pt">71</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">71</span></p> <p class="MsoToc7">Part 19—Minor technical amendments<span style="font-size: 9.0pt">                                                             </span> <span style="font-size:9.0pt">73</span></p> <p class="MsoToc9">Corporations (Aboriginal and Torres Strait Islander) Act 2006<span style="font-size:9.0pt;font-style:normal">                    </span> <span style="font-size:9.0pt;font-style:normal">73</span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> </div> <span style="font-size:11.0pt;font-family:"Times New Roman","serif""><br clear="all" style="page-break-before:always"/></span> <div class="WordSection3"> <p class="Page1">A Bill for an Act to amend the law in relation to Aboriginal and Torres Strait Islander corporations, and for related purposes</p> <p class="MsoNormal" style="margin-top:12.0pt;line-height:normal"> <span style="font-size:16.0pt">The Parliament of Australia enacts:</span></p> <opc-section depth="0" ref="1781c15986e94d1798eedf7ee8821769" title="1  Short title"><a name="1781c15986e94d1798eedf7ee8821769"/><p class="ActHead5"><a name="_Toc530556860"><span class="CharSectno">1</span>  Short title</a></p> <p class="subsection">                    This Act is the <i>Corporations (Aboriginal and Torres Strait Islander) Amendment (Strengthening Governance and Transparency)</i> <i>Act 2018</i>.</p> </opc-section><opc-section depth="0" ref="cd835cca676b4aedadefda1ecc196a27" title="2  Commencement"><a name="cd835cca676b4aedadefda1ecc196a27"/><p class="ActHead5"><a name="_Toc530556861"><span class="CharSectno">2</span>  Commencement</a></p> <p class="subsection">              (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.</p> <p class="Tabletext"> </p> <table class="MsoNormalTable" border="1" cellspacing="0" cellpadding="0" style="margin-left:5.35pt;border-collapse:collapse;border:none"> <thead> <tr> <td width="474" colspan="3" valign="top" style="width:355.55pt;border-top:solid windowtext 1.5pt; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none; padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Commencement information</p> </td> </tr> <tr> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Column 1</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom: solid windowtext 1.0pt;padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Column 2</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Column 3</p> </td> </tr> <tr> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Provisions</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom: solid windowtext 1.5pt;padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Commencement</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Date/Details</p> </td> </tr> </thead> <tr> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">1.  The whole of this Act</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">1 July 2019.</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">1 July 2019</p> </td> </tr> </table> <p class="notetext"><span style="layout-grid-mode:line">Note:          This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.</span></p> <p class="subsection">              (2)  Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.</p> </opc-section><opc-section depth="0" ref="b637cb0d63f948bcbd289fdd9816c40f" title="3  Schedules"><a name="b637cb0d63f948bcbd289fdd9816c40f"/><p class="ActHead5"><a name="_Toc530556862"><span class="CharSectno">3</span>  Schedules</a></p> <p class="subsection">                    Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.</p> </opc-section><?DMS-Include seriesId="1746c84e-a518-4546-9fc2-f1d32d757438"?></div> </body> </div></div></body></html>