In 2015–16 charges were filed in two major criminal matters and the Registrar also concluded 16 minor regulatory prosecutions against corporations that failed to meet their reporting obligations. One civil action remained in progress and another was concluded.

The Registrar undertakes a range of criminal and civil litigation to address serious cases of poor governance and breaches of duty under the CATSI Act. A summary of outcomes, including penalties imposed by the courts, is maintained on the ORIC website.

Examinations

In 2015–16 ORIC completed 39 examinations.

The Registrar has the authority under the CATSI Act (section 453-1) to examine a corporation’s books and records at any time. The purpose of an examination is to assess a corporation’s financial health and corporate governance standards. For example, an examination checks that a corporation is:

Corporation reporting compliance

The Registrar increased reporting compliance from 52.0 per cent in 2006–07 to 97.1 per cent in 2015–16 by providing targeted assistance to corporations and through ORIC’s prosecution programs.

Improved compliance has significantly increased the accuracy and reliability of the free public Register of Aboriginal and Torres Strait Islander Corporations.

Business plan 2015–16

The Registrar identified several priorities in the ORIC business plan 2015–16 to align with the ORIC strategic plan 2014–17. These priorities acknowledge that Aboriginal and Torres Strait Islander corporations are important for communities and Australian society.

In line with the business plan and the Registrar’s core functions, ORIC’s aim has been to increase public confidence in the standards of corporate governance and the viability of Aboriginal and Torres Strait Islander corporations.

Legislation

The Registrar of Indigenous Corporations is an independent statutory office holder whose chief function is to administer the CATSI Act. The legislation not only allows Aboriginal and Torres Strait Islander groups to form corporations but also it sets out how they should be run.

In addition to delivering modern corporate governance standards, the CATSI Act provides special measures to suit the needs of Aboriginal and Torres Strait Islander people. Some features unique to the CATSI Act include:

See ORIC yearbook 2015–16 table of contents