Probity is the evidence of ethical behaviour, and can be defined as complete and confirmed integrity, uprightness and honesty in a particular process. When dealing with government resources officials need to ensure proper use and management of public resources. Probity aims to identify the risks which can occur at any stage of a process and …
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Whether your organisation is a company limited by guarantee, not for profit or start-up, a Governance Manual, or Governance Charter, could prove useful in the short and long term operation of your organisation. What is a Governance Manual? A Governance Manual is a central document which contains information about most aspects of the operations and …
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During the Covid Crisis, the Government has twice had to introduce changes to allow companies to meet and carry out key functions such as executing documents without breaching public health orders. While there are provisions in place to allow the 2021 AGM season to proceed, permanent changes to the Corporations Act are currently under consideration.
All company directors will soon be required to apply to ASIC to obtain their own unique Director Identification Number (DIN). The Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill (the Amendment), part of the Government’s legislative package to introduce the Commonwealth Registers Act, has now passed both houses of parliament. Pending royal assent, it …
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The States and Territories have introduced some temporary changes affecting incorporated associations. The changes are in response to the COVID-19 pandemic and are to accommodate for new social distancing laws. Incorporated associations in the ACT ACT-based incorporated associations have been granted a 3-month extension on their Annual General Meeting (AGM) requirements, applicable up until 30 …
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As a result of the Corona Virus Outbreak (COVID-19) and social isolation restrictions, many organisations are finding it impossible hold their AGM. For companies with a financial year end of 31 December, AGMs are generally required to be held by 31 May. However, the Australian Securities and Investments Commission (ASIC) has relaxed this requirement. ASIC …
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It has been discussed for some years now, but the Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019 is finally before Parliament and in fact, is currently before the Senate. The aim of the Bill, in part, is to introduce director identification numbers and reduce phoenixing activity. Phoenxing activity occurs when, as the …
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On 13 November 2019, the Australian Securities and Investments Commission (ASIC) released its updated regulatory guidelines on whistleblower policies and what it expects a policy to contain. ASIC requires that a whistleblower policy include: detail on who can make a disclosure both internally and externally; the types of wrongdoing that can be disclosed; details on …
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In the recent case of Kroeger v Mornington Peninsula Shire Council [2019] FCCA 2313 (22 August 2019), the Federal Circuit Court of Australia provided useful guidance for employers and employees with more than one job in an organisation. Facts The Applicant was employed by the Respondent in two jobs, as Fitness Instructor and a Customer …
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Many not-for-profit organisations are registered as an incorporated association. An incorporated association is governed by the legislation of the State or Territory in which they are registered. However, the other most common structure for a not-for-profit entity is a public company limited by guarantee. Every organisation operates differently and should consider the most appropriate structure …
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