Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 2 - ABORIGINAL AND TORRES STRAIT ISLANDER CORPORATIONS  

PART 2-4 - REGISTRATION OF AN ABORIGINAL AND TORRES STRAIT ISLANDER CORPORATION AS A SMALL, MEDIUM OR LARGE CORPORATION  

Division 37 - Registration of an Aboriginal and Torres Strait Islander corporation as a small, medium or large corporation  

SECTION 37-1   REGISTRAR TO REGISTER ABORIGINAL AND TORRES STRAIT ISLANDER CORPORATION AS A SMALL, MEDIUM OR LARGE CORPORATION  

37-1(1)    
On the registration of an Aboriginal and Torres Strait Islander corporation, the Registrar must register the corporation as a small, medium or large corporation.

Note:

The classification determines the reports the corporation has to prepare (see Chapter 7 ) and whether or not the corporation must have a registered office and a corporation secretary.

37-1(2)    
The Registrar may register the corporation as a small corporation only if:

(a)    the application for registration indicates; or

(b)    the Registrar is otherwise satisfied; that the corporation is likely to be a small corporation in respect of its first financial year.

Note:

Subsection 37-10(1) sets out the criteria for determining whether the corporation is a small corporation for a particular financial year.

37-1(3)    
The Registrar may register the corporation as a medium corporation only if:

(a)    the application for registration indicates; or

(b)    the Registrar is otherwise satisfied; that the corporation is likely to be a medium corporation in respect of its first financial year.

Note:

Subsection 37-10(2) sets out the criteria for determining whether the corporation is a medium corporation for a particular financial year.

37-1(4)    
The Registrar may register the corporation as a large corporation only if:

(a)    the application for registration indicates; or

(b)    the Registrar is otherwise satisfied; that the corporation is likely to be a large corporation in respect of its first financial year.

Note:

Subsection 37-10(3) sets out the criteria for determining whether the corporation is a large corporation for a particular financial year.