Changes to Corporations (Aboriginal and Torres Strait Islander) Act
The Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) is the law that establishes the role of the Registrar of Aboriginal and Torres Strait Islander Corporations and provides for First Nations organisations to form corporations.
Changes to the CATSI Act came into effect on 25 March 2021, following the passing of the Native Title Legislation Amendment Act 2021 (Amendment Act) by the Federal Government. The Registered Native Title Bodies Corporate Legislation Amendment Regulations 2021 also resulted in changes to the Corporations (Aboriginal and Torres Strait Islander) Regulations 2017.
These changes do not affect YMAC membership or our Rule Book – only memberships of Registered Native Title Bodies Corporate (RNTBCs) and Prescribed Bodies Corporate (PBCs). Where requested, YMAC has been supporting clients to meet these new requirements through advice, facilitating meetings and drafting proposed rule book changes so that they can be presented at annual general meetings.
RNTBCs/PBCs have until 25 March 2023 to ensure their rule books are updated. Changes must be presented to – and approved by – members of the RNTBC/PBC and registered with ORIC before this date.
What are the changes?
There are also special administration amendments to the CATSI Act. Grounds for the ORIC Registrar to consider placing an RNTBC/PBC under special administration have been extended to include circumstances when the RNTBC/PBC breaches its native title obligations seriously or repeatedly.
More information is available at Changes to Native Title legislation affecting Prescribed Bodies Corporate (PBCs).