The Registrar of Indigenous Corporations, Anthony Beven, has released his latest report on convictions secured against Aboriginal and Torres Strait Islander corporations that have failed to meet their reporting obligations.
Over the past nine months, the Registrar has secured convictions against a further 22 corporations registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) for failing to lodge their returns for 2011–12. Twenty-one of the corporations are located in Queensland and one is in the Northern Territory.
Between 24 September 2013 and 14 February 2014, the court handed down significant fines to 22 corporations. Charges against an additional Queensland corporation were found proved but no conviction was recorded. The lowest fine was $250 and the highest $8000. Corporations that failed to lodge their annual returns over several years received the largest amounts.
Total fines (not including court costs) amount to $43,450.
‘Every corporation registered under the CATSI Act must meet its reporting obligations,’ said Mr Beven. ‘My office offers every assistance to corporations that may require help to prepare and lodge their annual returns.’
The annual returns are vital in ensuring the public Register of Aboriginal and Torres Strait Islander Corporations remains accurate and up to date. Corporation members, stakeholders and creditors rely on the information stored in this register.
‘Most corporations do the right thing and I thank them for their efforts,’ said Mr Beven.
Annual returns for the 2012–13 financial year were due on 31 December 2013. Currently 92 per cent of corporations have met their reporting obligations. The Registrar will shortly commence the 2014 prosecutions program. Non-compliant corporations are urged to act immediately.
The list of 23 corporations prosecuted is available at www.oric.gov.au—Summary of regulatory prosecutions for failure to lodge 2011−12 reports.
(02) 6146 4738
28 February 2014