More accountability, less red tape
The Australian Government is proposing reforms to strengthen and improve the Corporations (Aboriginal and Torres Strait Islander) 2006 (CATSI Act). The reforms are intended to benefit Aboriginal and Torres Strait Islander corporations by reducing red tape, especially for small corporations. Other proposed changes seek to increase transparency for members. There are also minor changes to streamline and clarify some parts of the CATSI Act.
The proposed changes cover the topics of:
- size classifications
- rule books
- prohibited names
- business structures
- meetings and reporting
- transparency of senior executives
- related third parties
- special administrations
- voluntary deregistration
- compliance powers.
For more information, download a three-page summary of the proposed changes (PDF 192kb).
To ensure that the proposed changes will work and benefit Aboriginal and Torres Strait Islander corporations as intended, we will undertake consultations around Australia.
|Tuesday, 7 August, 3.30–5.30pm||Coffs Harbour
Ex Services Club
2–6 Vernon Street
|Wednesday, 8 August, 3.30–5.30pm||
|Monday, 13 August, 3.30–5.30pm||
|Thursday, 16 August, 3.30–5.30pm||
|Tuesday, 21 August, 3.30–5.30pm||
|Wednesday, 22 August, 3.30–5.30pm||
|Friday, 24 August, 3.30–5.30pm||
|Monday, 27 August, 3.30–5.30pm||
Tuesday, 28 August, 10am–12noon
|Wednesday, 29 August, 3.30–5.30pm||
|Wednesday, 29 August, 6–8pm||
|Monday, 3 September, 10.30am–12.30pm||
|Friday, 14 September, 10.30am–12.30pm||
We are also preparing a consultation paper to assist people make a written submission.
Outcome of the consultation
We will use comments and feedback from stakeholders to help identify any issues with implementing the proposed amendments to the CATSI Act, and to ensure corporations can comply with them.
Feedback will also be used to assist us prepare guidance and support to help corporations understand and implement the changes when they take effect.
Stay in touch
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Background: Technical review of the CATSI Act
On 5 July 2017, the Minister for Indigenous Affairs, Nigel Scullion, announced that ORIC would lead a technical review of the CATSI Act.
The technical review was conducted in late 2017 and included stakeholder consultation. The CATSI Act commenced on 1 July 2007, and this was the first time a comprehensive review had been undertaken since the legislation came into effect. The purpose of the review was to explore ways to strengthen and improve the CATSI Act and aligning it with recent changes in corporate law and regulation, particularly in the Corporations Act 2001. The following documents explain the scope of the review and introduce the issues:
- Review of the CATSI Act—terms of reference (PDF 24kb)
- Review of the CATSI Act—discussion paper (PDF 102kb)
The review found a range of opportunities to make the law stronger and allow corporations to use it more effectively. Based on recommendations from the review, drafting of a Bill to amend the CATSI Act is now in progress.