When a corporation gives an asset or money to a person or group with a close relationship to the corporation, this is called giving a related party a financial benefit.
Unless it is exempt under the CATSI Act, only the corporation's members can approve giving related party financial benefits.
A related party can be an individual. These include:
Two or more Aboriginal and Torres Strait Islander corporations can join together to form a new corporation. This is called ‘amalgamating’.
These steps are for amalgamating multiple corporations already registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act).
If one or more of the organisations is not under the CATSI Act, please contact us.
There are requirements for a group to register and stay registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act).
Use this checklist to find out if meet the requirements to apply to register a corporation.
Note that there are some groups that cannot be registered under the CATSI Act.
Identify essential operational details.
Healthy disagreement on a board is a good thing. Disagreement can bring different perspectives and different ideas. It brings out differences of opinion.
Distinguish differences between corporate and cultural authority. Be mindful of understanding rules and obligations under the Corporations (Aborigin
Don’t worry – examinations are positive. Examinations look at what corporations do well and how they can improve.
A chairperson is first among equals. They may lead the board, but they have the same voice and the same vote as every other director.
The board should be a reflection of the purpose and objectives of the corporation.
