Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 10 - REGULATION AND ENFORCEMENT  

PART 10-2 - REGULATION OF ABORIGINAL AND TORRES STRAIT ISLANDER CORPORATIONS  

Division 439 - Regulation of Aboriginal and Torres Strait Islander corporations  

SECTION 439-20   REGISTRAR MAY REQUIRE COMPLIANCE WITH ACT ETC.  
Suspicion of non-compliance with the Act or financial irregularity

439-20(1)    
If the Registrar suspects on reasonable grounds that:

(a)    an Aboriginal and Torres Strait Islander corporation has failed to comply with a provision of this Act or the corporation ' s constitution; or

(b)    there has been an irregularity in the affairs of an Aboriginal and Torres Strait Islander corporation;

the Registrar may, by notice in writing to the corporation or to each director, require the directors to take the action specified in the notice, within the period specified in the notice, for the purpose of complying with the Act or the constitution or remedying the irregularity, as the case may be.

439-20(2)    
A notice under subsection (1) is not a legislative instrument.

Suspicion that there may be grounds to appoint a special administrator

439-20(3)    
If the Registrar suspects on reasonable grounds that:

(a)    circumstances exist in relation to an Aboriginal and Torres Strait Islander corporation; and

(b)    those circumstances constitute, or may constitute, grounds for determining that an Aboriginal and Torres Strait Islander corporation is to be under special administration;

the Registrar may, by notice in writing, require the directors of the corporation to take the action specified in the notice, within the period specified in the notice, for the purpose of causing those circumstances to cease to exist.

439-20(4)    
A notice under subsection (3) is not a legislative instrument.

Suspicion that circumstances may occur or develop that would constitute grounds to appoint a special administrator

439-20(5)    
If the Registrar suspects on reasonable grounds that:

(a)    circumstances are likely to occur or develop in relation to an Aboriginal and Torres Strait Islander corporation; and

(b)    if those circumstances were to occur or develop, they would constitute, or may constitute, grounds for determining that an Aboriginal and Torres Strait Islander corporation is to be under special administration;

the Registrar may, by notice in writing, require the directors of the corporation to take the action specified in the notice, within the period specified in the notice, for the purpose of preventing those circumstances from occurring or developing.

439-20(6)    
A notice under subsection (5) is not a legislative instrument.

Issue of notice does not preclude Registrar taking other action under this Act

439-20(7)    
If a notice has been issued by the Registrar under this section then, regardless of whether the period specified in the notice has expired or not, the Registrar may take any other action under this Act in relation to the corporation that the Registrar thinks appropriate.