The Registrar of Indigenous Corporations, Mr Anthony Beven, has today announced the end of the special administration at Nauiyu Nambiyu Aboriginal Corporation (NNAC).
Located at Nauiyu, also known as Daly River, in the Northern Territory, NNAC was originally incorporated as Nauiyu Nambiyu Inc. under the Northern Territory’s Associations Act. NNAC transferred its registration to the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) on 8 May 2013.
At the request of the NNAC directors, the Registrar placed NNAC into special administration on 15 September 2014 to address operational and financial management problems facing the corporation.
‘This has been a complex process but the special administrators and members have been able to turn NNAC around and get it back on track,’ Mr Beven said.
All of NNAC’s debts have been repaid without any government assistance and the corporation’s businesses have been completely restructured.
The Arnhem Land Progress Aboriginal Corporation (ALPA) has been contracted for five years to manage NNAC’s community store and mechanical workshop. The special administrators also signed an agreement which will see a major refurbishment and upgrade of the store. The Daly River Inn, operated by a subsidiary of NNAC, will also benefit from an agreement for ALPA to manage its finances and accounting for two years
NNAC’s role under the Remote Jobs and Communities Program (RJCP) was rationalised and Ironbark Employment was engaged to solely deliver the program in Nauiyu.
The special administrators resolved long-standing negotiations regarding formal leases for NNAC’s business premises. Comprehensive changes to the corporation’s rule book were also made to strengthen its corporate governance framework and an independent non-member director has been appointed to the board of directors.
‘In 2013 I said NNAC’s transfer to the CATSI Act would be a positive development for NNAC and the Nauiyu community,’ Mr Beven said. ‘I am pleased that my office has been able to assist this iconic corporation to restructure and put it into a much stronger position.’
Background
See the Registrar’s media release of 15 September 2014 (ORIC MR1415-07).
Media contact
Christa de Jager
(02) 6146 4737
ORIC MR1415-34
5 May 2015
