Director

Calling directors' meetings

The CATSI Act sets out the rules for meetings but there are some parts of the law that corporations can change in their rule book. Corporations need to set out in their rule book how often their directors' meetings will be held. We recommend that directors meet at least every 3 months. For corporations that are not very active, holding meetings less often may be appropriate.

Reporting to other stakeholders

Your corporation may have reporting obligations with other regulators and stakeholders such as the examples below.  

Charities

If your corporation is also registered as a charity with the Australian Charities and Not-for-Profits Commission (ACNC), you only need to lodge reports and changes to your corporation with ORIC. 

We share your reports and updates with the ACNC. The ACNC will treat your corporation as meeting their requirements and update the ACNC register. 

Exemptions

There are certain parts of the CATSI Act that the Registrar can grant exemptions for. An exemption means that a corporation does not have to comply with that part of the Act.

Exemptions may:

  • be conditional
  • be for a short time
  • have no end date
  • cover a group of corporations.

Requesting an exemption is different to replaceable rules in a corporation’s rule book. 

Types of rules

There are different types of rules for a corporation’s internal governance. There are rules that are set in the law and cannot be changed, can be replaced, can be changed and are specific to the corporation.