Over the last few years significant events have affected Aboriginal and Torres Strait Islander corporations, including bushfires, cyclones, floods and a global pandemic. These events have tested the flexibility and intent of the Corporations (Aboriginal and Torres Strait Islander Act 2006, and prompted a more proactive regulatory approach. We know that challenges also represent opportunities. Through this difficult time, our relationship with corporations has strengthened—and we have resolved to stay on the front foot in our support.
A commitment to a more proactive regulatory approach will shape our work over the next 4 years. We will build and maintain relationships, reach out to support corporations, and encourage the sector to self-regulate. In this effort, we aspire to being an empathetic regulator.
As Professor Cary Coglianese, director of the Penn Program on Regulation, says: ‘Regulatory excellence is about people excellence’.
This plan presents ORIC’s approach to achieving regulatory excellence and identifies actions we will take to propagate change for the better.